MRF tumbles after Q2 PAT slides 29% YoY to Rs 130 cr

9 Nov 2022 , 10:52 AM

Profit before tax declined 32% year on year to Rs 173.56 crore in the quarter ended 30 September 2022. Total expenses rose 20.85% year on year to Rs 5,729.82 crore with cost of raw materials consumed rising 8.4% year on year to Rs 4,161.18 crore during the period under review. Meanwhile, the companys board declared an interim dividend of Rs 3 per equity share for the financial year ending 31 March 2023. The company has fixed Friday,18 November 2022 [18.11.2022], as the record date for the purpose of payment of interim dividend and it will be paid on or after 2 December 2022. Futhermore, the board of directors approved enhancement in the issue of non-convertible debentures through private placement from Rs 100 crore to Rs 150 crore which was approved earlier by the board at its meeting held on 9 August 2022. MRF is engaged in the manufacture of rubber products such as tyre, tubes, flaps, tread rubber and/or trading in rubber and rubber chemicals. Powered by Capital Market – Live News