Tyre major MRF Ltd on Tuesday reported a 50.26% decline in consolidated profit from continuing operations to Rs 165.21 crore for the final quarter ended March 2022, hit by a rise in costs, especially raw materials. The company had recorded a consolidated profit from continuing operations at Rs 332.13 crore in the March quarter of the fiscal year 2020-21, MRF said in a regulatory filing. Also Read |Top 5 cryptocurrencies of the day: BTC down by 5%, TerraUSD trends at no. 1 The consolidated revenue in the March quarter was Rs 5,304.82 crore against Rs 4,816.46 crore in the same quarter of the previous financial year, it added. Total expenses during the quarter were higher at Rs 5,142.79 crore compared to Rs 4,425.21 crore in the year-ago period, said MRF Ltd. The cost of materials consumed also rose to Rs 3,293.14 crore from Rs 2,915.19 crore. Also Read |Staff made best possible decision under difficult circumstances: IndiGo CEO on boarding row For the full financial year 2022, consolidated profit from continuing operations stood at Rs 669.24 crore compared to Rs 1,277.07 crore in the previous financial year, the company said. Revenue from operations in the financial year 2022 was Rs 19,316 crore against Rs 16,163.19 crore in fiscal 2021. Also Read |Week ahead: OPEC, IEA reports and quarterly results to weigh on Sensex, Nifty Expenses during the year rose to Rs 18,725.78 crore from Rs 14,636.29 crore in the previous fiscal year.MRF said its board in a meeting held on Tuesday, have recommended a final dividend of Rs 144 per share of Rs 10, over and above the two interim dividends already declared - taking the total dividend for fiscal 2022 to Rs 1,501 per share of Rs 10. Also Read |Musk aims to raise Twitter's annual revenue five-fold to $26 billion by 2028 The board also approved the re-appointments of Samir Thariyan Mappillai and Varun Mammen as whole-time directors of the company for 5 years with effect from August 4, 2022, subject to the approval of the shareholders.