MRF Q2 Net Down 18 Percent At Rs 229 Crore

Published On 2019-11-08 19:36:23By Anand Priyadarshi 936 views

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

MRF_Tyre

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.

Recommended Read: Apollo Tyre Q2 Profit Falls 43 Percent On Weak Demand In The Indian Market

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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