MRF slips after Q2 PAT slides 54% YoY to Rs 189 cr

MRF fell 2% to Rs 78,255.35 after the company's consolidated net profit fell 53.99% to Rs 189.06 crore on 15.63% increase in net sales to Rs 4,907.81 crore in Q2 September 2021 over Q2 September 2020.

On a consolidated basis, profit before tax declined 55.34% to Rs 255.21 crore in Q2 September 2021 over Q2 September 2020.

During the quarter, total expenses rose 27.54% YoY to Rs 4,741.42 crore. Employee expense climbed 13.55% YoY to Rs 386.05 crore. Raw material cost spurted 68.99% YoY to Rs 3,839.22 crore.

The board approved an interim dividend of Rs 3 per share. The record date is fixed on 19 November 2021.

 

MRF is the largest manufacturer of tyres in India. It also makes rubber treads, paints & coats, sporting goods and toys.

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