MRF Q2 Net Down 18 Percent At Rs 229 Crore

Published On 2019-11-08 19:36:23By Anand Priyadarshi 846 views

The company had posted a profit of Rs 278.29 crore for the year-ago period


Tyre major MRF on Tuesday reported 17.73 per cent decline in consolidated net profit at Rs 228.96 crore for the quarter ended September 30, 2019. The company had posted a profit of Rs 278.29 crore for the year-ago, MRF said in a regulatory filing.

Revenue from operations stood at Rs 4,007.63 crore as against Rs 3,946.77 crore in the same period last year, a growth of 1.57 per cent. Total expenses during the second quarter were higher at Rs 3,760.80 core as compared to Rs 3,649.87 crore in the year-ago period, it added.

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The company’s board has declared an interim dividend of Rs 3 per equity share for the financial year ending March 31, 2020. The board has also approved raising of up to Rs 102 crore by way of issuance of non-convertible debentures on private placement.

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