MRF’s net profit at Rs 768.96 cr in FY23

CHENNAI: Automobile tyre major MRF Ltd closed FY23 with a total income of Rs 23,261.17 crore, compared to Rs 19,633.71 crores in the previous year. The company reported a net profit of Rs 768.96 crore (Rs 669.24 crore). The increase in sales was a result of growth in all product groups, it said in a release. MRF shipped out goods worth Rs 1,877 crore last fiscal as against Rs 1,791 crore for the previous year ended March 31, 2022. The unprecedented increase in raw material prices, which was witnessed during financial year 2021-22 due to the pandemic and also Ukraine crisis, extended into the current financial year, the company said. The Board of Directors have recommended a final dividend of Rs 169 (1,690 per cent) per share of Rs 10 each.