MRF Q2 net profit slips 18% to Rs 229 crore; declares interim dividend of Rs 3

Tyre major MRF on Friday reported 17.73 percent 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 period, 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 a year ago, 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.

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 basis in one or more tranches.

ALSO READ: Allahabad Bank Q2 loss widens to Rs 2,103 crore, stock plunges 11%

ALSO READ: HPCL Q2 profit slips 4% to Rs 1,052 crore, revenue dips 9%

ALSO READ: Lupin Q2FY20 results: Drugmaker banks on US market, plans new product launches