MRF Q2 net down 18 pc at Rs 229 cr

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 percent. Total expenses during the second quarter were higher at Rs 3,760.80 crore 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.