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Tyremaker MRF has reported an 18 per cent fall in its net profit at ₹279 crore for the quarter ended December 31, 2018, against ₹341 crore in the same period last year due to higher operating costs.
Its revenue grew 6 per cent to ₹4,034 crore (₹3,799 crore). But this modest growth in sales was insufficient for it to cover the higher material costs of ₹2,712 crore (₹2,196 crore). Its profit before exceptional items and tax thus stood at ₹409 crore (₹513 crore).
Tax expenses fell to ₹130 crore when compared with ₹172 crore in the year-ago quarter.
For the nine-month period ended December 31, 2018, MRF’s net profit rose 7.5 per cent to ₹803 crore (₹747 crore).
Total revenues stood at ₹11,764 crore (₹11,362 crore).
The board has declared a second interim dividend of ₹3 per equity share (30 per cent), according to a statement.
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