MRF Q3 net profit plummets by 38% to Rs 315.46 Crore

New Delhi: Tyre maker MRF Ltd on Thursday reported a 38 per cent decline in consolidated net profit at Rs 315.46 crore in the third quarter ended December 2024 impacted by high raw material cost.

The company had posted a consolidated net profit of Rs 509.71 crore in the same period last fiscal, MRF Ltd said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at Rs 7,000.82 crore, as against Rs 6,162.46 crore in the year-ago period, it added.

Total expenses in the third quarter were higher at Rs 6,674.72 crore, as compared to Rs 5,557.67 crore in the corresponding period last fiscal.

Cost of materials consumed stood at Rs 4,656.1 crore, as compared to Rs 3,790.59 crore in the same quarter a year ago, the company said.

MRF said its board of directors at its meeting held on February 6, 2025 has declared a second interim dividend of Rs 3 per equity share at the rate of 30 per cent for the financial year ending March 31, 2025.