MRF Limited Reports 352% Surge in Q2 Net Profit, Revenue Jumps 6.7%

3 Nov 2023 , 01:33 PM

MRF Limited reported an impressive 351.76 % surge in consolidated net profit for the quarter ending on September 30, reaching Rs 586.66 crore, compared to Rs 129.86 crore in the same quarter of the previous year.

However, when compared to Q1FY24, the net profit saw a minor decline of 0.35 % from Rs 588.75 crore.

Q2FY24 witnessed a 6.70 % year-on-year increase in revenue from operations, with the figure standing at Rs 6,217.10 crore, up from Rs 5,826.30 crore.

Yet, on a quarter-on-quarter basis, the revenue for operations experienced a 3.46 % decline compared to Rs 6,440.29 crore in Q1FY24.

The total income for Q2FY24 amounted to Rs 6,287.82 crore, reflecting a 6.51 % year-on-year growth from Rs 5,903.38 crore. However, on a quarter-on-quarter basis, the total income decreased by 3.48 % from Rs 6,514.98 crore in Q1FY24.

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