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India’s Most Expensive Share MRF Announces Final Dividend of Rs 194 Per Share

MRF declared a substantial final dividend of Rs 194 per share for FY24, significantly up from Rs 3 previously, totaling an annual dividend of Rs 200 per share.
India's Most Expensive Share MRF Announces Final Dividend of Rs 194 Per Share
India's Most Expensive Share MRF Announces Final Dividend of Rs 194 Per Share

MRF, often referred to as India’s most expensive stock, announced a significant final dividend of Rs 194 per share for FY24, marking a notable increase from the modest Rs 3 per share in the previous 2 years. This brings the total annual dividend to Rs 200 per share.

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Despite the generous dividend payout, MRF’s financial performance for the year exhibited positive growth. Consolidated net profit rose by 16% to Rs 396 crore compared to the previous year. However, on a sequential basis, the profit after tax declined by 22% from the October to December quarter to Rs 396 crore.

Revenue from operations witnessed a significant increase, reaching Rs 6,349 crore, up 9% year-on-year. Meanwhile, expenses also rose by 9% to Rs 5,916 crore. The net profit margin for the reported quarter stood at 6.15%, showing a decrease from the previous quarter but an improvement from the same period last year.

On a standalone basis, MRF reported a profit of Rs 379.55 crore for the January to March quarter, down 8% from the previous year. Standalone revenue for the quarter stood at Rs 6,215 crore, an increase of 8.50% compared to the year-ago period. However, this figure represents a decrease from the previous quarter’s revenue.

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