MRF (Madras Rubber Factory) has declared an interim dividend of ₹3 per share for FY 2025, despite a 20% decline in standalone net profit for the quarter ending September 30, 2024. The company posted a net profit of ₹455 crore, compared to ₹572 crore during the same period last year. However, its revenue from operations increased by 11% year-on-year, reaching ₹6,760 crore.
This interim dividend declaration is in line with MRF’s history of rewarding shareholders generously. Over the past 12 months, the company has distributed ₹200 per share in dividends, which corresponds to a dividend yield of 0.17% based on the current share price of ₹1,19,098.
In addition to the profit decline, MRF also reported a 14% fall in EBITDA, which amounted to ₹974 crore for the quarter, down from ₹1,129 crore in the previous year. The company’s profit margins also contracted, falling to 14.4% for the period. Despite these challenges, MRF continues to prioritize shareholder returns.
In response to the financial results, MRF’s stock price dipped by 2.7%, trading at ₹1,17,728.65 on the Bombay Stock Exchange (BSE) around midday on Friday.
The record date for the interim dividend is set for November 19, 2024, and the payout will be completed by November 29, 2024. This decision underscores MRF’s ongoing commitment to maintaining investor confidence while managing financial and operational challenges.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Please conduct your research or consult a financial advisor before making any investment decisions.
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