MRF Q2 profit falls 22.8% as raw material costs rise
In short
MRF Ltd said its net profit fell 22.8% in the July-September quarter. Revenue from operations rose 17.4% to Rs 8,660.19 crore, but total expenses increased sharply because raw material costs went up. The company also announced an interim dividend of Rs 3 per share.
What the reporting says
MRF Ltd reports a 22.8% drop in net profit for the July-September quarter, even as revenue from operations rises 17.4% to Rs 8,660.19 crore. The tyre maker says total expenses climbed sharply, driven by higher raw material costs. MRF also announces an interim dividend of Rs 3 per share for shareholders.
Why it matters
MRF Ltd reports a 22.8% decline in net profit for the July-September quarter, while revenue from operations rises 17.4% to Rs 8,660.19 crore. The company says total expenses increased sharply due to higher raw material costs and announces an interim dividend of Rs 3 per share. The update points to margin pressure for the tyre maker despite stronger revenue growth.