MRF records Rs. 1,700 Cr standalone profit before tax

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MRF records Rs. 1,700 Cr standalone profit before tax

MRF’s standalone total income is Rs 16,128.58 crores for the year ended 31st March 2021, as compared to Rs. 16,321.64 crores in the previous year. The standalone profit before tax stood at Rs. 1,700.27 crores for the year ended 31st March 2021, as against Rs. 1,399.32 crores for the previous financial year. Tax expense for the year is Rs 451.21 crores (previous year Rs. 4.34 crores). After making provision for tax expense, the standalone net profit for the year ended 31st March 2021 is Rs 1,249.06 crores as against Rs. 1394.98 crores for the previous financial year.

The Board of Directors have recommended a final dividend of RS. 94/- (940%) 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, 2021. In addition to the final dividend, the Board has recommended a special dividend of Rs.50/- (500%) per share of RS.10 each in connection with the 60th Annual General Meeting of the Company.

The total dividend for the financial year ended 31st March 2021 (including the special dividend) works out to RS.150/- (1500%) per share of RS. 10 each.

“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 said in a filing to regulatory exchange.

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