Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the easy-accordion-free domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6114

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u144920493/domains/currencyveda.com/public_html/wp-includes/functions.php on line 6114
MRF Ltd's Q2FY24 Net Profit Surges 361%, Revenue Up 6% Despite QoQ Dip - CurrencyVeda
November 22, 2024

CurrencyVeda

Currency News Simplified

TOP NEWS

MRF Ltd’s Q2FY24 Net Profit Surges 361%, Revenue Up 6% Despite QoQ Dip

Editor Currencyveda02 mins
MRF Ltd's Q2FY24

November 3, 2023

New Delhi, India

MRF Ltd Q2FY24: Reports Remarkable Growth

MRF Ltd, a leading tire manufacturer, showcased a stellar performance in the second quarter of the financial year 2023-24 (FY24).

Financial Highlights

In Q2FY24, MRF Ltd witnessed a noteworthy 361% surge in net profit, reaching ₹571.9 crore. Despite a 0.35% decrease from the previous quarter, the profit marked a substantial increase compared to the same period last year.

Also check: Latest Q2 Results

Revenue Performance

The company’s revenue demonstrated a positive trajectory, rising by 6% to ₹6,087.56 crore year-on-year, but reported a 3.46% decline quarter-on-quarter.

Investor Confidence and Stock Performance

MRF Ltd’s confidence in its financial strength was evident with an interim dividend announcement of ₹3 per equity share. The stock was trading at Rs 1,08,225.65, indicating positive investor sentiment.

Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

Related News