MRF Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 03, 2023 at 03:07 am EDT
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MRF Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 62,171 million compared to INR 58,263 million a year ago. Revenue was INR 62,878.2 million compared to INR 59,033.8 million a year ago. Net income was INR 5,866.6 million compared to INR 1,298.6 million a year ago. Basic earnings per share from continuing operations was INR 1,383.26 compared to INR 306.19 a year ago. Diluted earnings per share from continuing operations was INR 1,383.26 compared to INR 306.19 a year ago.
For the six months, sales was INR 126,573.9 million compared to INR 115,222.3 million a year ago. Revenue was INR 128,028 million compared to INR 116,337.5 million a year ago. Net income was INR 11,754.1 million compared to INR 2,534.6 million a year ago. Basic earnings per share from continuing operations was INR 2,771.45 compared to INR 597.63 a year ago. Diluted earnings per share from continuing operations was INR 2,771.45 compared to INR 597.63 a year ago.
MRF Limited is an India-based multinational tire maker. The Company is engaged in the manufacture of rubber products, such as tires, tubes, flaps, tread rubber. The Company's tires products include MRF PERFINZA, MRF MARKUS, MRF CITIBUS, MRF MOGRIP METEOR M TT, MRF ZAPPER TL, MRF ZAPPER N TL, MRF SUPER MILER 99 PLUS, MRF SUPER LUG FIFTY PLUS R, MRF SAVARI EXTRA, and others. The Company's international business has a range of tires in various categories, including heavy-duty truck/bus tires, light trucks, MUV/RCV/passenger cars, motorsports, farm services, military services, forklifts, two/three-wheeler, off-the-road/earthmovers, and pretreads. Its tires and services stocks the entire range of MRF tires and is equipped to provide services, such as computerized nitrogen inflation, tubeless repair, wheel alignment, wheel balancing and tire changing. The Company provides paints and coats, including water-based wood finishes, pigmented finishes, special coatings, and others.