MRF Stocks Rise 5% After Company Announces 1690% Bumper Dividend; Key Details
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Last Updated: May 03, 2023, 14:50 IST MRF share price jumped nearly 5 per cent to hit a high of Rs 92,850 apiece on the BSE. This comes after the company announced a 1,690 per cent final dividend (Rs 169 per share of the face value of Rs 10) along with the announcement of the March quarter results. MRF on Wednesday reported 86 per cent rise in the consolidated net profit to Rs 313.53 crore in the quarter ending March 31, 2023, as compared to Rs 168.53 crore in the same quarter in 2021-22 (FY22). Its consolidated revenue from operations rose 10 per cent to Rs 5,841.7 crore in Q4FY23 as compared to Rs 5,304.8 crore in Q4FY22. The company had earlier announced two interim dividends of Rs 3 each. The total dividend for the financial year works out to be Rs 175 per share. In FY23, the company’s profit rose 8.4 per cent to Rs 739.52 crore from Rs 681.67 crore in FY22. Total expenses rose roughly 5 per cent in the quarter, slowing from a 23 per cent growth in the first nine months