MRF Reports 28 Percent Decline in Second Quarter Net Profit Due to Higher Costs

Tyre manufacturer <b>MRF Ltd.</b> reported a twenty-eight percent decline in net profit for the September quarter, dropping to Rs 369 crore. Higher raw material and logistics costs offset the strong demand for its products during the period. The company posted a net profit of Rs 512 crore in the corresponding quarter of the previous financial year. Total revenue from operations rose nearly eighteen percent to Rs 8,524 crore, while total expenses increased by more than twenty-two percent driven by material costs. Raw material expenses surged significantly amid supply challenges, prompting the board to declare an interim dividend of Rs 3 per share. The matter remains under observation as costs are expected to stay elevated.