Tyre maker MRF Ltd. has reported a 32% drop in its standalone net profit for the second quarter to ₹124 crore from the year-earlier period on account of an increase in input costs.
Revenue from operations grew by 18% to ₹5,719 crore while total expenditure rose from ₹4,672 crore to ₹5,630 crore, it said in a filing.
The board recommended an interim dividend if ₹3 per share and approved the enhancement in the issue of non-convertible debentures from ₹100 crore to ₹150 crore on private placement basis.
On Tuesday, the board announced the appointment of three independent directors — Vikram Taranath Hosangady, Ramesh Rangarajan and Dinshaw Keku Parakh for a period of five years.
