MRF consolidated Q2 net skids 20% to ₹471 cr. on input cost hike

Tyre major MRF Ltd reported consolidated net profit for the September quarter contracted 20% from the year ago period to ₹471 crore due to unprecedented rise in raw material prices.

The input cost situation was unfavourable and this was reflected in increases in commodity prices. Even though the company had a double digit growth in revenue compared to Q2, some of the input cost increases have been offset by price increases of the end product, the company official said.

Revenue from operations increased by 11% to ₹6,881 crore, while input cost increased to ₹4,741 crore from ₹3,749 crore.

The board declared an interim dividend of ₹3 per share and it will be paid by November 29.

Published - November 08, 2024 07:34 pm IST