File photo: MRF Tyre.
New Delhi: Tyre major MRF Thursday posted a 12.29 per cent decline in its profit at Rs 263.04 crore for the quarter ended September 30, 2018, on account of higher expenses.
The company had reported a profit of Rs 299.92 crore during the same period of the previous fiscal.
Total income rose to Rs 4,004.85 crore for the quarter under review, up 9.41 per cent as compared with Rs 3,660.22 crore in the same period of the previous year, MRF said in a regulatory filing.
Total expenses in the second quarter of this fiscal stood at Rs 3,611.19 crore, up 12.17 per cent, as against Rs 3,219.30 crore reported in the corresponding quarter a year ago.
The board of directors has also approved the payment of interim dividend of Rs 3 per share for the financial year ending March 31, 2019.