Leading tyre maker MRF has posted strong numbers for the fourth quarter of 2017-18, but for the full year, the results were disappointing.

For FY18, the company’s profit declined by 25 per cent at ₹1,092 crore compared with ₹1,451 crore in 2016-17. Profit before exceptional items and tax stood at ₹1,602 crore against ₹2,066 crore.

Revenue from operations grew by three per cent at ₹15,227 crore compared with ₹14,749 crore in the previous year.

On a consolidated basis, its profit after tax was down to ₹1,132 crore from ₹1,486 crore, while revenue stood at ₹15,411 crore (₹14,929 crore).

“In FY18, the introduction of the landmark GST brought in some uncertainties as businesses adjusted to the new tax regime. However, a good monsoon resulted in a healthy upswing in the agrarian economy and stoked a recovery on rural demand.The commercial vehicle industry witnessed robust growth, especially during the second-half of 2018, which augured well for the industry,” according to a company statement.

Escalation in the cost of crude-based inputs remains a concern and will add pressure to the bottomline, it added.

For the quarter ended March 31, 2018, the company’s profit after tax grew by 20 per cent at ₹345 crore compared with ₹287 crore. Its profit before exceptional items and tax stood at ₹514 crore against ₹364 crore. Its revenue from operations was ₹3,865 crore (₹3,713 crore).

The board has recommended a final dividend of ₹54 per share. It has already declared and paid two interim dividends of ₹3 each per share for the financial year ended March 31, 2018. With the recommendation of final dividend, the total dividend works out to ₹60 per share.

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