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MRF Ltd Q4FY24 results: Net profit up 16% to Rs 396.11 crore; income up 9%

MRF Limited announced an interim dividend of Rs 194 per share

MRF tyres

For the entire financial year, the company reported a rise in net profit by 170.66 per cent at Rs 2,081.23 crore, compared to Rs 768.94 crore reported at the end of FY23

Rimjhim Singh New Delhi

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MRF Limited, on May 3, reported a 16.28 per cent year-on-year rise in consolidated net profit at Rs 396.11 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 340.65 crore during the same period last year (Q4FY23).

Sequentially, the net profit went down 22.28 per cent from Rs 509.71 crore in the last quarter.

The company's revenue from operations increased by 0.81 per cent to Rs 6,349.36 crore in Q4, compared to Rs 5,841.72 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 6,162.46 crore.

The company reported a total income of Rs 6,443.17 crore for Q4FY24. This was an increase of 8.99 per cent from Rs 5,911.51 crore reported during the year-ago period. On a quarter-on-quarter basis, the total income was up 3.25 per cent. It was Rs 6,240.08 crore in Q3FY24.

For the entire financial year, the company reported a rise in net profit by 170.66 per cent at Rs 2,081.23 crore, compared to Rs 768.94 crore reported at the end of FY23.

The company's revenue from operations for FY24 rose by 9.39 per cent at Rs 25,169.21 crore, compared to Rs 23,008.50 crore in the previous financial year. 

The company's total income increased by 9.56 per cent at Rs 25,486.05 crore in FY24, compared to Rs 23,261.17 crore reported in FY23.

MRF Ltd announced an interim dividend of Rs 194 per share.

At 1:25 pm, the stock price of MRF Limited was trading at Rs 1,28,399.0.

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First Published: May 03 2024 | 1:28 PM IST

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