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.
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