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    Vikshita Vitthal Gujaran in News

    08-Nov-2022 04:18 PM


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    MRF misses Q2 profit estimates as input costs weigh; declares interim dividend, record date fixed

    Tyre manufacturer MRF Ltd missed second quarter profit estimates on Tuesday, as soaring input costs and supply chain issues weighed, offsetting a rise in revenue.
    The company's standalone net profit from continuing operations fell over 32% to ₹124 crore for the three months ended September 2022 as compared to ₹183 crore a year earlier.
    “In the said Meeting, the Board of Directors has declared an Interim Dividend of ₹3/-per equity share (30%) for the financial year ending 31st March, 2023.
    The Interim Dividend declared will be paid on or after 2nd December, 2022 [02.12.2022]," MRF informed in the exchange filing.
    The tyre manufacturing industry has been grappling with high input costs as soaring global inflation hiked prices of raw materials such as rubber.

    source - MInt

    #rubber