MRF net profit jumps 86 per cent at Rs 313.5 crore
The company’s consolidated revenue from core operations increased 10% to Rs 5,842 crore for the fourth quarter ending March 2023 as against Rs 5,305 crore a year ago.
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Published: 04th May 2023 08:05 AM | Last Updated: 04th May 2023 08:05 AM | A+A A-
Image used for representation. (Photo | MRF tyres)
NEW DELHI: Tyre manufacturing company MRF Limited on Wednesday reported an 86% increase in consolidated net profit at Rs 313.5 crore for the fourth quarter of financial year 2022-23 (FY23) as against Rs 168.5 crore in the year-ago period.
It also announced a dividend of Rs 169 (1,690% on the face value of Rs 10 per share) per share. Along with two interim dividends of Rs 3 each per share already paid, total dividends works out to Rs 175 (1,750 per cent) per share for FY23, the company said in a stock exchange filing. According to the company, the record date and payment date for the dividend payment will be announced soon.
The company’s consolidated revenue from core operations increased 10% to Rs 5,842 crore for the fourth quarter ending March 2023 as against Rs 5,305 crore a year ago. Other income of the company increased marginally to `70 crore as compared to Rs 66 crore a year ago. The company’s share closed gained 5.65% at Rs 93,600 on Wednesday.
The company’s net profit for the ful financial year FY23 was at Rs 768.96, up 14.9%, compared to Rs 669.24 crore for the previous financial year. Income. The tyre maker’s profit before tax stood at Rs 1,069.74 crore. Despite efforts being taken to pass on the cost increases in a graduated manner, the profitability continued to be low during the first three quarters of the year.
Adani Wilmar net profit down 60% to Rs 94 crore
NEW DELHI: Edible oil major Adani Wilmar on Wednesday reported a 60% fall in consolidated net profit at Rs 93.61 crore for the fourth quarter ending March 2023 on lower revenue. Its net profit stood at Rs 234.29 crore in the year-ago period. Total income fell to Rs 13,945.02 crore For Q4FY23 from Rs 14,979.83 crore in the year-ago period, Adani Wilmar said in a regulatory filing.
During the full last fiscal, Adani Wilmar’s net profit declined to Rs 582.12 crore from Rs 803.73 crore in the previous financial year. The company’s total income, however, increased to Rs 58,446.16 crore from Rs 54,327.16 crore in the previous year.