Friday, Mar 29 2024 | Time 13:51 Hrs(IST)
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Business Economy


MRF achieves Rs 19,304 cr standalone total income in 2021-22 fiscal

Chennai, May 11 (UI) Tyre major MRF has achieved a standalone total
income of Rs 19304.43 crores for the year ended March 31 2022, as
against Rs. 16128.58 crores the previous year.
The standalone Profit before tax stood at Rs. 879.16 crores as against
Rs. 1700.27 crores the previous financial year.
Tax expense for the year is Rs 231.82 Crores (previous year Rs. 451.21
Crores). After making provision for Tax expense, the standalone net" profit
for the year is Rs '647.34 Crores as against Rs. 1249.06 Crores for the
previous financial year, a company release said today.
The Company's exports for the year was Rs 1,779 Crores as against
Rs 1333 Crores for the previous year.
Despite its best efforts, the company has been unable to recover fully the
raw materials cost increases.
The cost increases of raw materials are at an unprecedented level. market
conditions, after the pandemic, are also not favourable to absorb such
frequent price increases.
The company will do its best to recover the cost increases in the coming months.
The operations were also adversely impacted by the uncertainties posed by the
COVID 19 pandemic in the early part of the year, issues connected with availability
of raw materials and also challenges posed by the Ukranian war.
The Board of Directors have recommended a final dividend of Rs 144 (1440%) per
share of RS.10 each.
The Company has already declared and paid two interim dividends of Rs.3 each
(30%) per share for the financial year ended 31st March,2022. With two dividends
of Rs. 3/- each paid during the above period, the aggregate dividend for the year
works out to Rs 150 ( 1500%) per share of RS.10 each.
UNI GV 1522
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