MRF Q2 Results: Tyre Maker Sees 351% Jump In Profit, Dividend Of Rs 3 APiece Announced; Details Inside

Tyremaker MRF Ltd on Friday announced its results for the quarter and half year ended September 30, 2023.
In the second quarter of the current financial year, the company's consolidated profit after tax (PAT) soared 351.71% to Rs 586.66 compared to Rs 129.86 crore in the prior corresponding period. MRF has also declared an interim dividend of Rs 3, translating into a 30% payout. The interim dividend will be paid on or after November 30, 2023.

Following the announcement of the company's Q2 results, MRF shares traded 1.82% lower at Rs 108500.00 per share at 1:37 pm IST.

During this period, the company's revenue from operations stood at Rs 6,217.10 crore, against Rs 5,826.30 crore year-on-year (y-o-y), up 6.70%. Sequentially, the company's revenue from operations fell 3.46% as it stood at Rs 6,440.29 crore in Q1FY24. The tyre manufacturer's total income for Q2FY24 stood at Rs 6,287.82 crore, up 6.51% (YoY). In A2FY23, the total income of MRF Ltd stood at Rs 5,903.38 crore. On a quarterly basis, the total income fell 3.48% as it was Rs 6,514.98 crore in Q1FY24.

MRF Dividend announcement:

The company has declared an Interim Dividend of Rs.3/-per equity share [30%] for the financial year ending March 31, 2024.

MRF Dividend Payment Date:

The Company has fixed Friday, November 17, 2023, as the record date for the purpose of payment of Interim Dividend. The Interim Dividend declared is expected to be paid on or after November 30, 2023.