MRF Oct-Dec Net Profit Sees Mammoth Rise At ₹5.08 Billion

MRF Oct-Dec Net Profit Sees Mammoth Rise At ₹5.08 Billion

Chennai-based tyre company, MRF Ltd posted a three-fold on-year surge in net profit for the December quarter at Rs 5.08 billion.

Juviraj AnchilUpdated: Friday, February 09, 2024, 02:37 PM IST
article-image
MRF Becomes First Indian Stock To Reach ₹1 Lakh Mark | Image: MRF (Representative)

Chennai-based tyre company, MRF Ltd posted a three-fold on-year surge in net profit for the December quarter at Rs 5.08 billion. Revenue from operations for the quarter rose 9.3 per cent to Rs 60.48 billion. Sequentially, net profit fell 11.2 per cent and revenue fell 0.7 per cent. Other income rose to Rs 766 million from Rs 699.8 million a year ago. In Oct-Dec, total expenditure, including finance cost, was at Rs 54.45 billion compared with Rs 53.81 billion a year ago. Finance cost was at Rs 776.4 million, as against Rs 801.7 million a year ago.

The Maverick of MRF

MRF boasts a diverse portfolio, manufacturing a wide array of tires for various vehicles including two-wheelers, passenger cars, trucks, pickups, LCVs, three-wheelers, and agricultural machinery. In addition to tires, the company is also engaged in the production of tubes, flaps, tread rubber, specialty chemicals, and trades in rubber chemicals.

Company Exhibits Strong Numbers

The company's tax outgo for the December quarter was at Rs 1.71 billion, as against Rs 542.8 million a year ago. For the nine months ended December, the company's net profit surged 309.7 per cent on year to Rs 16.61 billion, while revenue rose 9.5 per cent to Rs 184.59 billion. The company will pay an interim dividend of Rs 3 a share.

MRF's fundamental operations persist within a single segment, with revenue contributions as follows: 91 per cent from automobile tires, 6 per cent from automobile tubes, 2 per cent from specialty chemicals, and 1 per cent from other sources.

Geographically, the revenue breakdown is 92 per cent from operations within India and 8 per cent from international markets.

At 1314 IST, shares of MRF were 3.4 per cent lower at 137,793.60 rupees on the National Stock Exchange. 

RECENT STORIES

Godrej Dynasty Divides? Family Begins Formal Division Process: Report

Godrej Dynasty Divides? Family Begins Formal Division Process: Report

Premier Energies Files IPO Papers With SEBI; Looks To Raise ₹1,500 Cr

Premier Energies Files IPO Papers With SEBI; Looks To Raise ₹1,500 Cr

Zomato Gets ₹11.82 Cr Tax Demand And Penalty Notice

Zomato Gets ₹11.82 Cr Tax Demand And Penalty Notice

'...Paid PR About My Death': Sugar Cosmetics CEO Vineeta Singh Reacts To Fake Reports About Her...

'...Paid PR About My Death': Sugar Cosmetics CEO Vineeta Singh Reacts To Fake Reports About Her...

Summer Car Care Guide: Cruising Through the Heat with Ease

Summer Car Care Guide: Cruising Through the Heat with Ease