On a consolidated basis, the tyre maker's net profit fell 71.30% to Rs 149.39 crore on 6% increase in net sales to Rs 4,920.13 crore in Q3 December 2021 over Q3 December 2020.
Profit before tax slumped 70.69% year-on-year to Rs 202.34 crore in Q3 December 2021.Total expenses rose 19.24% to Rs 4,787.33 crore with cost of raw materials consumed rising 14.44% to Rs 3,035.65 crore during the period under review.
The board has declared a second interim dividend of Rs 3 per equity share for the financial year ending 31 March 2022.
The board has approved the re-appointment of Rahul Mammen Mappillai as managing director of the company for a period of 5 years with effect from 4 May 2022, subject to the approval of the shareholders.
MRF is engaged in the manufacture of rubber products such as tyre, tubes, flaps, tread rubber and/or trading in rubber and rubber chemicals.
Shares of MRF were down 0.86% at Rs 69,800.
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