MRF shares: India’s highest-priced stock, MRF Limited, which has been joked about on social media for giving small dividends of Rs 3 each in the past two payouts, announced on Friday a final dividend of Rs 194 for the financial year 2023-24.
In its statement, MRF’s Board of Directors proposed a final dividend of Rs 194 per share, which is 1940% of the face value of Rs 10, stated an ET report.Earlier this financial year, the company had already paid two interim dividends of Rs 3 each. With this final payout, the total dividend for the financial year ending March 31, 2024, will be Rs 200 per share, or 2000% of the face value.
The announcement comes after MRF released its consolidated financial results for the fiscal year, which showed a net profit of Rs 396 crore—a 16% increase from the Rs 341 crore reported in the previous year. However, the consolidated profit after tax (PAT) decreased by 22% compared to the Rs 510 crore recorded in the October-December quarter.
The revenue from operations for the reported quarter reached Rs 6,349 crore, up from Rs 5,842 crore in the fourth quarter of the previous fiscal year (Q4FY23). This marks a 9% increase year-over-year (YoY).
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The company’s expenses increased by 9% year-over-year to Rs 5,916 crore in the reported quarter, compared to Rs 5,410 crore in the fourth quarter of the previous fiscal year (Q4FY23).
Despite the revenue growth, the net profit margin for the quarter was 6.15%, lower than the 8.17% in the third quarter of FY24, but higher than the 5.76% in Q4FY23.
The profit on a standalone basis for the January-March quarter was Rs 379.55 crore, which is an 8% decrease from the Rs 410.66 crore in the previous quarter (Q4FY23). This marks a drop of over 25% on a quarter-on-quarter (QoQ) basis.
The standalone revenue for the January-March quarter was Rs 6,215 crore, up 8.50% from the Rs 5,725 crore reported in the same period last year. Compared to the previous quarter, when revenue was Rs 6,048 crore, there was a modest increase.
In its statement, MRF’s Board of Directors proposed a final dividend of Rs 194 per share, which is 1940% of the face value of Rs 10, stated an ET report.Earlier this financial year, the company had already paid two interim dividends of Rs 3 each. With this final payout, the total dividend for the financial year ending March 31, 2024, will be Rs 200 per share, or 2000% of the face value.
The announcement comes after MRF released its consolidated financial results for the fiscal year, which showed a net profit of Rs 396 crore—a 16% increase from the Rs 341 crore reported in the previous year. However, the consolidated profit after tax (PAT) decreased by 22% compared to the Rs 510 crore recorded in the October-December quarter.
The revenue from operations for the reported quarter reached Rs 6,349 crore, up from Rs 5,842 crore in the fourth quarter of the previous fiscal year (Q4FY23). This marks a 9% increase year-over-year (YoY).
ASLO READ | Adani Ports Q4 results: India’s largest port operator reports 77% YoY jump in profit – check details
The company’s expenses increased by 9% year-over-year to Rs 5,916 crore in the reported quarter, compared to Rs 5,410 crore in the fourth quarter of the previous fiscal year (Q4FY23).
Despite the revenue growth, the net profit margin for the quarter was 6.15%, lower than the 8.17% in the third quarter of FY24, but higher than the 5.76% in Q4FY23.
The profit on a standalone basis for the January-March quarter was Rs 379.55 crore, which is an 8% decrease from the Rs 410.66 crore in the previous quarter (Q4FY23). This marks a drop of over 25% on a quarter-on-quarter (QoQ) basis.
The standalone revenue for the January-March quarter was Rs 6,215 crore, up 8.50% from the Rs 5,725 crore reported in the same period last year. Compared to the previous quarter, when revenue was Rs 6,048 crore, there was a modest increase.
