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MRF reports 79% rise in September quarter profit at Rs 411 crore

The company had posted a consolidated profit from continuing operations at Rs 228.96 crore in the year-ago period, MRF Ltd said in a regulatory filing.

By: PTI | New Delhi | November 6, 2020 5:43:36 pm
mrf q2 profitConsolidated revenue from operations during the period under review stood at Rs 4,244.43 crore as against Rs 4,007.63 crore in the same quarter of last fiscal, MRF said. (Representative image)

Tyre major MRF Ltd on Friday reported a 79 per cent jump in consolidated profit from continuing operations at Rs 410.92 crore for the quarter ended September.

The company had posted a consolidated profit from continuing operations at Rs 228.96 crore in the year-ago period, MRF Ltd said in a regulatory filing.

Consolidated revenue from operations during the period under review stood at Rs 4,244.43 crore as against Rs 4,007.63 crore in the same quarter of last fiscal, it added.

Total expenses during the period was lower at Rs 3,717.62 crore as compared to Rs 3,760.80 in the second quarter of the last fiscal. Cost of materials consumed was lower at Rs 2,271.82 crore as compared to Rs 2,425.75 crore in the year-ago period, the company said.

Employee benefits’ expense was marginally higher at Rs 339.99 crore in the second quarter as against Rs 336.20 crore in the corresponding period last fiscal, it added.

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