 "MRF Q3 net dips 18% to Rs 279 cr on higher expenses, posts rise in revenue")
Tyre major MRF on Thursday reported 18 per cent decline in standalone net profit at Rs 279.26 crore for December quarter 2018, hit by an increase in overall expenses during the period.
The company had reported a net profit of Rs 340.51 crore in October-December 2017-18.
Revenue from operations, however, rose to Rs 4,033.76 crore for the latest quarter as compared with Rs 3,798.82 crore in the year-ago period, MRF said in a regulatory filing.
Total expenses in the third quarter 2018-19 increased to Rs 3,750.25 crore from Rs 3,331.14 crore in the same period a year ago.
The company's board, which met Thursday, also recommended an interim dividend of Rs 3 per share.
MRF stock was trading 0.24 per cent down at Rs 59,910.05 on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app