This multinational tyre company to give 1,680 per cent dividend for FY23!
As the season of financial results is on the company has reported results on May 3, 2023.
Yesterday MRF Limited declared its financials for Q423 and the year ended March 31 2023.
On a consolidated basis for the fourth quarter company's net profit climbed by 106.2 per cent to Rs 340.67 crore from Rs 165.21 crore in a similar period the year prior. In Q4FY23, the company's total revenue is up by 10.12 per cent from Rs 5,304.82 crore to Rs 5,841.72 crore for the same quarter the year prior.
On a consolidated basis, MRF recorded a 14.9 per cent increase in net profit for the year ended March 31, 2023, from Rs 669.24 crore to Rs 768.96 crore. When compared to the year ended March 31, 2022, the company’s total revenue increased by 19.11 per cent, reaching Rs 23,008.50 crore from 19,316.72 crore.
It had given two interim dividends of Rs 3 each on November 18, 2022, and February 21, 2023. Board has approved it will give a final dividend of Rs 168 per share of Rs 10 face value.
Today the stock opened at Rs 93,300 and touched high and low of Rs 95,711.65 and Rs 93,060.30, respectively. It closed around Rs 94,900 up by 1.47 per cent and around 1,243 shares were traded over the counter.
MRF is a company that produces, distributes, and sells tyres for various types of automobiles. The business provides services for tyre shopping, tyre repair, and tyre maintenance. In addition, it is India's largest Original Equipment Manufacturer (OEM) tyre provider, offering a wide variety of tyres for anything from motorcycles to fighter jets.