On a consolidated basis, the tyre maker's net profit zoomed 115.7% to Rs 520.54 crore on 13.8% rise in revenue from operations to Rs 4,641.60 crore in Q3 FY21 over Q3 FY20.
Profit before tax surged 86.4% to Rs 690.31 crore in Q3 FY21 over Q3 FY20. Current tax expense jumped 62.48% to Rs 166.53 crore in Q3 FY21 over Q3 FY20.The company declared a second interim dividend of Rs 3 per share. The record date is fixed on 19 February 2021.
Meanwhile, the company's board has approved raising upto Rs 1000 crore by issuing non-convertible debentures on private placement basis in one or more tranches. The board has authorised the finance committee of the company to determine the detailed terms and conditions thereof and the same will be informed to stock exchanges as and when finalised.
Shares of MRF fell 4.08% to Rs 93,048.95. MRF manufactures and distributes tyres and tubes for automobiles, aircrafts, motorcycles and cycles.
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