Tyre maker MRF on Friday reported a 20% decline in its standalone net profit at Rs 455 crore for the quarter ended September 2024. The same stood at Rs 572 crore in the year-ago quarter.
Revenue from operations for the period rose 11% YoY to Rs 6,760 crore.
The Board also declared an interim dividend of Rs 3 per share for the financial year 2024-25 and set November 19 as the record date.
The company reported an EBITDA of Rs 974 crore for the July-September 2024 period, a decline of about 14% compared to Rs 1,129 crore reported in the same period last year.
Meanwhile, margins also decreased to 14.4% in the second quarter.
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Total expenses for the quarter rose 16% YoY to Rs 6,363 crore, up from Rs 5,497 crore in the same quarter last year.
Profit before tax (PBT) fell 20% YoY to Rs 631 crore in the quarter ended September 2024, compared to Rs 791 crore in the previous year’s quarter.
On Friday, MRF shares were trading nearly 3% lower at Rs 1,17,858 on the NSE.
MRF Q2 Results: Co declares Rs 3/share interim dividend as PAT jumps 12% YoY to Rs 526 crore
