The tyre maker posted a 79.5% jump in consolidated net profit to Rs 410.92 crore in Q2 September 2020 from Rs 229 crore reported in Q2 September 2019.
The tyre marker's net sales for Q2 September 2020 grew by 6% to Rs 4,244.43 crore from Rs 4,007 crore in the same period last year. The result was announced after market hours yesterday, 6 November 2020.Consolidated profit before tax came at Rs 571.46 crore in Q2 September 2020, rising 67% year on year from Rs 342.31 crore posted in the same period last year. Current tax expense spiked 64% YoY to Rs 160.49 crore in Q2 September 2020.
Meanwhile, the company has declared a dividend of Rs 3 per share. The record date is set at 19 November 2020. The interim dividend will be paid on or after 1 December 2020.
Shares of MRF fell 0.02% at Rs 68,514.05 on Friday.
MRF manufactures and distributes tyres and tubes for automobiles, aircrafts, motorcycles and cycles.
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