Higher input costs drag MRF Q2 net profit down 23%

Tyre maker MRF Ltd reported a 22.8% decline in net profit for the July-September quarter, driven by a significant increase in total expenses due to sharp rises in raw material costs. Revenue from operations saw a growth of 17.4%, reaching Rs 8,660.19 crore compared to the previous year. The company announced an interim dividend of Rs 3 per share to its shareholders.