NEW DELHI: Tyre major MRF on Thursday reported over two-fold rise in its consolidated net profit to Rs 520.54 crore for the third quarter ended December 2020. The company had reported a net profit of Rs 241.32 crore for the October-December period in 2019.
Revenue from operations increased to Rs 4,641.6 crore in the third quarter, from Rs 4,075.75 crore in the year-ago period, MRF Ltd said in a regulatory filing.
The company’s board, which met on Thursday, also approved raising of up to Rs 1,000 crore by way of issuance of non-convertible debentures on private placement basis in one or more tranches.
The tyre maker has authorised its finance committee to determine the detailed terms and conditions of the issue.
The board of directors also declared a second interim dividend of Rs 3 per share (30 per cent) for the financial year ending March 31, 2021.
