- MRF’s Q3 2023 consolidated PAT: Rs 509.71 crore.
- Consolidated total income: Rs 6,240.08 crore.
- Nine-month PAT: Rs 1,685.12 crore, up from Rs 428.29 crore.
- Nine-month total income: Rs 19,042.88 crore.
- Board declares second interim dividend: Rs 3 per equity share.
- Dividend payout expected on or after March 4, 2024.
Consolidated Profit Surges for MRF in Q3 2023 :
MRF Ltd, headquartered in Chennai, reported strong financial results for the October-December 2023 quarter, with a consolidated profit after tax (PAT) of Rs 509.71 crore, a considerable rise over the previous year’s figure.
Impressive increase in total income :
The consolidated total income for the quarter increased to Rs 6,240.08 crore, a significant increase from Rs 5,715.91 crore recorded in the same period of the previous fiscal year, according to MRF Ltd in a filing with the Bombay Stock Exchange.
Nine-Month Financial Highlights :
In addition to the remarkable quarterly results, MRF reported a significant improvement in its nine-month financial performance for the fiscal year ending December 31, 2023. The consolidated profit rose to Rs 1,685.12 crore, a significant increase from Rs 428.29 crore in the same period last year.
Strong revenue performance :
The consolidated total income for the nine-month period ended December 31, 2023 was Rs 19,042.88 crore, representing a significant increase from Rs 17,349.66 crore in the previous fiscal year.
Board Declaration and Dividend Announcement :
The MRF Board of Directors met on Friday to discuss financial performance and approved a second interim dividend of Rs 3 per equity share (30%) for the fiscal year ending March 31, 2024. The company has confirmed that the second interim dividend payment will be made on or after March 4, 2024.
MRF Ltd, a Chennai-based tyre manufacturing behemoth, recorded a consolidated profit after tax (PAT) of Rs 509.71 crore for the October-December 2023 quarter, indicating a significant gain over the same period in the previous fiscal year. The company’s consolidated total income increased to Rs 6,240.08 crore in this quarter, indicating strong revenue growth.
For the nine-month period ended December 31, 2023, MRF’s consolidated earnings increased significantly, hitting Rs 1,685.12 crore, up from Rs 428.29 crore in the same time last year. The consolidated total income for the nine-month period also increased significantly, reaching Rs 19,042.88 crore, indicating the company’s outstanding performance and growth trajectory.
In a recent development, the Board of Directors declared a second interim dividend of Rs 3 per equity share (30%) for the fiscal year ending on March 31, 2024. Shareholders should expect to receive the dividend payout on or after March 4, 2024, demonstrating the company’s commitment to compensating its shareholders despite its remarkable financial performance.
MRF’s most recent financial results demonstrate its resilience and ability to manoeuvre through difficult market conditions while retaining significant growth momentum. MRF’s focus on innovation, quality, and customer satisfaction has helped to secure its position as a leader in the tyre manufacturing sector, both domestically and worldwide.
In conclusion :
MRF’s outstanding performance in the third quarter of 2023 demonstrates the company’s strong business fundamentals and strategic initiatives, positioning it for long-term growth and value creation.