News Overview

According to a regulatory filing, the company's overall sales increased by 6% to ₹3,385.61 Crore from ₹3,200.16 Crore the previous year.

Profit before tax was lower in Q4 FY2024 due to an impairment charge of ₹201.3 Crore. The quarter's R&D investment totaled ₹425.5 Crore (8.7% of revenue).

In early Asian trade, the U.S. dollar increased by 0.22% to 154.235 yen, continuing its 0.58% increase from Monday.

For FY24, operating revenue soared by 33.8% YoY to ₹550.4 Crore, with a net profit doubling to ₹103.5 Crore. EBITDA increased by 53.3% to ₹126.8 Crore.

The company appointed law and accounting firms to investigate suspected irregularities and confirmed no similar fraud elsewhere in its portfolio.

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Bonus share issuance enables companies to utilize accumulated free reserves, boost Earnings Per Share (EPS), increase paid-up capital, and reduce reserves

The IPO consists of an offer for sale (OFS) of up to 2.93 Crore equity shares by current investors, along with a new equity issue of up to ₹750 Crore.

MRF recorded a 7.6% decrease in net profit for the quarter, from ₹410.7 Crore to ₹379.6 Crore, compared to the same period last year.

The Nifty Realty index exhibited a robust performance, surging by 2.76%, while the Nifty PSU Bank index faced a notable setback, dropping by 3.66%.