Tyre manufacturing company MRF declared an interim dividend of Rs 3 per share for the financial year 2022-23. The company has fixed February 21 as the record date for the purpose of payment of the dividend
This is the second interim dividend for the current fiscal and will be paid on March 6.
The company’s net profit rose 17% to Rs 175 crore for the three months ended December period, compared with Rs 149 crore in the corresponding quarter of last year.
On a sequential basis, the company’s profit rose 35% from Rs 130 crore reported in the preceding September quarter.
For the fiscal year 2022–2023, MRF, a manufacturer of tyres, paid an interim dividend of Rs. 3 per share. The record date for the purpose of the dividend payment has been set by the firm at February 21. This will be paid on March 6 and is the second interim dividend for the current fiscal year. In comparison to the same quarter last year, the company’s net profit increased 17% to Rs 175 crore during the three months that ended in December. Sequentially, the business’s profit increased 35% from the Rs 130 crore recorded in the September quarter before.
While this was happening, operating revenue increased by 15% to Rs 5,644 crore from Rs 4,920 crore in the same quarter last year. From Rs 5,826 crore in the September quarter, the revenue decreased 3% sequentially.Other income for the quarter increased somewhat from the same period last year, rising to Rs 71 crore from Rs 69 crore. The company’s total revenue for the December quarter increased 15% year over year to Rs 5,716 crore. In the identical quarter of last year, the amount was Rs 4,989 crore. In addition, the board has authorised Arun Mammen’s appointment to a fifth five-year term as the company’s managing director with the title “Vice Chairman & Managing Director” beginning on April 1. 