MRF reports 51% dip in net profit at Rs 332 crore in Q4

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New Delhi: Tyre maker MRF Ltd on Monday reported a 51% decline in its consolidated net profit to Rs 332 crore for the fourth quarter of the fiscal ended on March 31, 2021.

The company had posted a consolidated net profit from continuing operations at Rs 679 crore for the January-March quarter of 2019-20.

Consolidated revenue from operations stood at Rs 4,816 crore for the fourth quarter as against Rs 3,685 crore in the same period of FY20.

For the entire 2020-21 fiscal, the company reported a consolidated net profit of Rs 1,277 crore as compared with Rs 1,423 crore in 2019-20.

Revenue from operations for the last fiscal stood at Rs 16,163 crore as against Rs 16,239 crore in 2019-20.

“The second phase of the pandemic has affected our business due to the continuing lockdown in different parts of the country. It is hoped that in a month or two the situation across the country will turn more stable enabling the business to get back to normalcy,” MRF Ltd said in a regulatory filing.

The company’s board has recommended a final dividend of Rs 94 (940%) per share of Rs 10 each, it added.

The total dividend for the financial year ended March 21, 2021, (including the special dividend) works out to Rs 150 (1,500%) per share of Rs 10 each, the tyre maker said.

Shares of the company were trading 2.39% down at Rs 82,898 apiece on the BSE.