MRF fell 2.74% to Rs 82,600.65 after the company's consolidated net profit declined 51.1% to Rs 332.15 crore in Q4 FY21 from Rs 679.02 crore in Q4 FY20.
Revenue from operations increased 30.7% year-on-year (YoY) to Rs 4,816.46 crore during the quarter.
Total expense jumped 28.6% YoY to Rs 4,425.21 crore in the fourth quarter, due to higher raw material costs (up 33.9% YoY), higher other expenses (up 16.2% YoY) and higher depreciation charges (up 11.8% YoY).
Profit before tax in Q4 FY21 stood at Rs 448.99 crore, up 47.8% from Rs 303.82 crore in Q4 FY20. Current tax expense rose 26.9% to Rs 96.62 crore in Q4 FY21 over Q4 FY20.
The tyre maker recorded 10.2% decline in consolidated net profit to Rs 1,277.07 crore on 0.5% fall in revenue from operations to Rs 16,163.19 crore in FY21 over FY20.
The company's board of directors have recommended a final dividend of Rs 94 per share and a special dividend of Rs 50 per share.
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"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, the company said in a statement.
MRF manufactures and distributes tyres and tubes for automobiles, aircrafts, motorcycles and cycles.
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