MRF’s earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at Rs 694 crore, up from Rs 489 crore reported in the same period last year, representing an increase of 42%.
The company’s Board of Directors has also declared a dividend of Rs 169 per share for the financial year ended March 31, 2022, which is subject to the approval of the shareholders at the Annual General Meeting (AGM) scheduled to be held in August.
MRF is one of the largest tire manufacturers in India and has a significant presence in the global market. The company has been focusing on expanding its product portfolio and strengthening its distribution network in recent years.
Commenting on the results, MRF’s Chairman and Managing Director, K M Mammen, said, We are happy to report a strong set of financial results for the quarter and the financial year. Our focus on innovation, quality, and customer satisfaction has helped us to maintain our position as one of the leading players in the market.
MRF has been investing heavily in research and development to create new products and technologies to cater to the evolving needs of the market. The company has also been expanding its manufacturing capacity and upgrading its facilities to improve operational efficiency.
The company’s shares were trading at Rs 95,630 apiece on the Bombay Stock Exchange (BSE) at the time of writing, up by 0.35% from the previous day’s close.
What do you think about this share your views in the comments.
