MRF Tyre manufacturer has reported a 16% increase in its consolidated net profit for the fourth quarter ended March 2024

Tyre manufacturer MRF has reported a 16% increase in its consolidated net profit for the fourth quarter ended March 2024, with a profit of Rs 396 crore. This is compared to a net profit of Rs 341 crore in the same quarter of the previous fiscal year. The revenue from operations also rose to Rs 6,349 crore in the last fiscal year, up from Rs 5,842 crore in 2022-23. For the entire financial year ended March 2024, MRF’s net profit stood at Rs 2,081 crore, compared to Rs 769 crore in FY23. Revenue from operations increased to Rs 25,169 crore in FY24, up from Rs 23,008 crore in FY23. The company’s board has recommended a final dividend of Rs 1,941 per share of Rs 10 each. MRF has already paid two interim dividends of Rs 31 per share each time for the financial year ended March 2024. The total dividend for the financial year ended March 2024 is Rs 2,001 per share of Rs 10 each. On Friday, shares of the company closed 4.05% lower at Rs 1,28,499.65 apiece on the BSE.