MRF March Quarter Results: Net profit down 7.6%, margin shrinks by 50 bps; dividend declared

MRF March Quarter Results: Tyre maker MRF on Friday reported a standalone net profit of Rs 379.55 crore for the January-March period, a decline of 7.6 per cent compared with the corresponding quarter a year ago. 

Its revenue increased 8.6 per cent on a year-on-year basis to Rs 6,215.1 crore, according to a regulatory filing.

The Chennai-headquartered tyre manufacturer's margin, a key measure of profitability, contracted by 50 basis points (bps) to 14.2 per cent for the final three months of the financial year 2023-24. 

The company's board recommended a final dividend of Rs 194 per share for the financial year 2023-24, on top of two interim dividends of Rs 3 per share each earlier.

(This story will be updated shortly)

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