MRF registers 54% slump in net profit in Q2 FY22
ROADS & HIGHWAYS

MRF registers 54% slump in net profit in Q2 FY22

On Tuesday, tyre producer MRF recorded a 54% drop in consolidated net profit at Rs 189.06 crore for the second quarter ended September 30, 2021.

The firm had registered a net profit of Rs 410.92 crore in the July-September term of the past financial year.

In a regulatory filing, MRF said that the income from operations surged to Rs 4,907.81 crore in the second quarter as against Rs 4,244.43 crore in the previous year.

The firm said its board has announced an interim dividend of Rs 3 per equity share (30%) for the financial year ending March 31, 2022.

Additionally, it said that the interim dividend will be given on or after December 3, this year.

The firm's shares were trading 1.79% down at Rs 78,427.25 apiece on the BSE.

Image Source

Also read: JK Tyre to launch eco products in domestic export market

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

On Tuesday, tyre producer MRF recorded a 54% drop in consolidated net profit at Rs 189.06 crore for the second quarter ended September 30, 2021. The firm had registered a net profit of Rs 410.92 crore in the July-September term of the past financial year. In a regulatory filing, MRF said that the income from operations surged to Rs 4,907.81 crore in the second quarter as against Rs 4,244.43 crore in the previous year. The firm said its board has announced an interim dividend of Rs 3 per equity share (30%) for the financial year ending March 31, 2022. Additionally, it said that the interim dividend will be given on or after December 3, this year. The firm's shares were trading 1.79% down at Rs 78,427.25 apiece on the BSE. Image Source Also read: JK Tyre to launch eco products in domestic export market

Next Story
Real Estate

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Next Story
Real Estate

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Next Story
Infrastructure Urban

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement