Huge Dividend Of Rs 169/Share Announced: Tyres Sector Stock Profit Rises 86%

Large cap company operating in Tyres sector, MRF Ltd on Wednesday declared its consolidated profit after tax (PAT) at Rs 313.53 crore for 4th quarter ended March 2023, up 86% YoY as against Rs 168.53 crore reported in the same quarter last year. The board of directors recommended a final dividend of Rs 169/- (1690%) per share of Rs 10 each on May 3, 2023. Soon after the announcement, the shares of the company rallied over 5% on BSE.

Meanwhile, the company announced its consolidated revenue from operations at Rs 5,841.7 crore in Q4 FY23, up 10.12% YoY. It was declared Rs 5,304.8 crore in Q4 FY22.

According to the BSE filing of the company, "The Board of Directors at its meeting held today have recommended a final dividend of Rs 169/- (1690%) per share of Rs.10 each. The Company has already declared and paid two interim dividends of Rs.3/- (30%) each per share for the financial year ended 31st March, 2023. The total dividend for the financial year ended 31st March 2023 works out to Rs. 175 (1750%) per share of Rs.10 each."

Stock Performance: Last trading price of MRF Ltd is Rs 93528.40 apiece with intraday gain of 5.57%. The stock's 52-week high price is Rs 95,954.35 apiece and 52-week low price is Rs 65,900.05 apiece, respectively. The company has a market capitalisation of Rs 39,666.73 crore.

Stock Return: The stock gave 10% return in last 1-month, 3% return in last 6-months, 28% return in last 1-year, 17% return in last 2-years, and 54% return in last 3-years.

About MRF Ltd: MRF's origin traces back to the humble shack in Madras that housed its first makeshift toy balloon manufacturing unit set up by KM Mammen Mappillai in 1946. It was not until 1952 when it changed course and turned to tread rubber manufacturing. MRF's passion for motorsports is seen through its involvement in racing, karting, rallying and various other motorsport events, according to its official website.

Disclaimer: The copmany declared dividend and quarterly dividend today. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.