Yesterday on May,10 MRF announced financial results for the fourth quarter of FY22. The Chennai-based company reported a standalone net profit of ₹156.78 crores for the fourth quarter of FY22 against ₹317.26 crores in the same period of the previous fiscal registering a decline of 50.6%. The profits were hit by higher expenses, especially raw materials, a PTI report said.
The total income of the company went up 9.8% to Rs 5,265. 20 crore compared with Rs 4,794.21 crore same time last fiscal. The total expense of the company stood at Rs 5048.64 against Rs 4363.59 crore in the same period of the previous fiscal.
The company’s total income stood at Rs 19,304.43 crore for the full year compared to Rs 16,128.58 crore in the previous year, logging a growth of 19.7%. The total expense for the whole year stood at Rs 18425.27 crore compared to Rs 14428.31 in the previous year. The cost of materials consumed also surged higher to Rs 3244.28 compared to Rs 2874.71 crores in the same period the previous year. The cost of materials for the whole financial year stood at Rs 13254.54 against Rs 8853.63 last year.