MRF Q3 Result: Posts More Than Two-Fold Increase in Net Profit To Rs 521 Crore
Published On 12-Feb-2021
MRF reported a net profit of Rs 241.32 crore for the October-December period in 2019
Home grown tyre major, MRF has reported over two-fold rise in its consolidated net profit to Rs 520.54 crore for the third quarter ended December 2020.
The company had reported a net profit of Rs 241.32 crore for the October-December period in 2019.
Revenue from operations increased to Rs 4,641.6 crore in the third quarter, from Rs 4,075.75 crore in the year-ago period, MRF Ltd said in a regulatory filing.
The company's board, which met on Thursday, also approved raising of up to Rs 1,000 crore by way of issuance of non-convertible debentures on private placement basis in one or more tranches.
MRF Â has authorised its finance committee to determine the detailed terms and conditions of the issue.
The board of directors also declared a second interim dividend of Rs 3 per share (30 per cent) for the financial year ending March 31, 2021.
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Source: PTI
