MRF Q2 declines 14.3% to Rs 385.29 crore

Tyre manufacturer MRF today reported a 14.36 per cent decline in standalone net profit at Rs 385.29 crore for the second quarter ended September 30, 2016.
The company had posted a net profit of Rs 449.92 crore in the July-September quarter a year ago, MRF said in a BSE filing.
Total income from operation was down 1.04 per cent to Rs 3,614.63 crore during the quarter under review as against Rs 3,652.78 crore of the corresponding quarter last fiscal.
Total expenses was at Rs 3,109.44 crore, up 4.06 per cent, as against Rs 2,987.97 crore.
In the first half of 2015-16, MRF's' standalone net profit was down 5.72 per cent to Rs 876.22 crore as against Rs 929.47 crore a year earlier.

Total income in the first half of the current fiscal was also down marginally 0.46 per cent at Rs 7,497.00 crore as against Rs 7,532.17 crore in the same period last year.
Meanwhile, in a separate filing, MRF informed BSE that its board of directors in a meeting held today declared an interim dividend of 30 per cent, which is Rs 3 per equity share for the financial year ending March 31, 2017.
Shares of MRF were trading at Rs 46,455 on BSE, down 6.35 per cent from previous close.