MRF Q2 profit falls 12% to `263 cr

Financial Chronicle - - MONEY GAME -

Tyre ma­jor MRF posted a 12.29 per cent de­cline in its profit at Rs 263.04 crore for the quar­ter ended Septem­ber, on ac­count of higher ex­penses.

The com­pany had re­ported a profit of Rs 299.92 crore dur­ing the same pe­riod of the pre­vi­ous fis­cal. To­tal in­come rose to Rs 4,004.85 crore for the quar­ter un­der re­view, up 9.41 per cent as com­pared with Rs 3,660.22 crore in the same pe­riod of the pre­vi­ous year, MRF said in a reg­u­la­tory fil­ing. To­tal ex­penses in the sec­ond quar­ter of this fis­cal stood at Rs 3,611.19 crore, up 12.17 per cent, as against Rs 3,219.30 crore re­ported in the cor­re­spond­ing quar­ter a year ago. The board of di­rec­tors has also ap­proved the pay­ment of in­terim div­i­dend of Rs 3 per share for FY18.

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