MRF's consolidated net profit for December quarter increased by 17%

13 Feb 2023 CW Team

The third quarter ended December 31, 2022, saw a 17% increase in the consolidated net profit from continuing operations at Rs 1.74 billion, according to the tyre manufacturer MRF.

In the same quarter of the previous fiscal year, the company reported a consolidated net profit from continuing operations of Rs 1.49 billion.

Total operating revenue for the reviewed period was Rs 56.44 billion as opposed to Rs 49.20 billion during the same period last year.

In the third quarter, total expenses were higher at Rs 54.84 billion than they were in the same quarter a year prior at Rs 47.87 billion.

For the fiscal year ending March 31, 2023, the board of directors has declared a second interim dividend of Rs 3 per equity share (at 30%).

The business added that its board has also accepted Arun Mammen's re-appointment as its Managing Director for a further five years, beginning on April 1, 2023, with the position "Vice Chairman & Managing Director."

The re-appointment will be approved by the shareholders via postal poll.

Also read:
Ceat plans to invest in off-highway tyres segment: Anant Goenka
BKT launches EARTHMAX Crusher Haul & EARTHMAX SR 34

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..