The tyre maker reported a consolidated net profit of Rs 509.71 crore in Q3 FY24, steeply higher than Rs 174.83 crore posted in Q3 FY23.
Revenue from operations grew by 9.18% year on year (YoY) to Rs 6,162.46 crore in the quarter ended 31 December 2023.Profit before tax surged to Rs 682.41 in the third quarter of FY24 as compared with Rs 231.19 crore recorded in the corresponding quarter previous year.
On nine-month basis, the company recorded consolidated profit of Rs 1,685.12 crore in 9M FY24 as against Rs 428.29 crore posted in 9M FY23. Revenue from operations rose 9.63% YoY to Rs 18,819.85 crore in 9M FY24.
Meanwhile, the company's board has declared a second interim dividend of Rs 3 per equity share for FY24. The record date for the same is fixed on 21 February 2024 and the dividend will be paid on or after 4 March 2024.
Shares of MRF slipped 3.82% to Rs 1,37,047.15 on the BSE.
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