MRF Limited Q2FY24 result: Net profit jumps 351% YoY to Rs 586 crore

MRF Limited reported a jump of 351.76 per cent in its consolidated net profit in the quarter ended September 30 to Rs 586.66 crore, compared to Rs 129.86 crore in the same quarter last year.  As compared to Rs 588.75 crore in Q1FY24, the net profit was down 0.35 per cent.

The revenue from operations for Q2FY24 came in at Rs 6,217.10 crore, compared to Rs 5,826.30 crore year-on-year (y-o-y), registering a jump of 6.70 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was down 3.46 per cent. It stood at Rs 6,440.29 crore in Q1FY24.

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The company declared an interim dividend of Rs 3.

The total income for Q2FY24 came in at Rs 6,287.82 crore, compared to Rs 5,903.38 crore y-o-y, registering a rise of 6.51 per cent. On a q-o-q basis, the total income was down 3.48 per cent. It was Rs 6,514.98 crore in Q1FY24.

At 12:54 pm, the MRF Limited stock was trading at Rs 1,08,225.65.