Tyre maker MRF Ltd on Monday reported a 51 per cent 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 cent) 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 cent) per share of Rs 10 each, the tyre maker said. Shares of the company were trading 2.39 per cent down at Rs 82,898 apiece on the BSE.
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