Tyre main MRF Ltd. has determined to boost ₹102 crore by issuing non-convertible debentures (NCDs) on a personal placement foundation, in a number of tranches.
The board of administrators, at its assembly held on Friday, have authorized elevating of funds by means of issuance of NCDs on personal placement foundation, aggregating to an quantity not exceeding ₹102 crore in a number of tranches, stated the corporate in a regulatory submitting.
Through the second quarter, the standalone web revenue of the corporate for the second quarter ended September 2019 dipped by 16.22% to ₹220.36 crore. Complete earnings elevated to ₹4,042 crore from ₹4,005 crore. The board has declared an interim dividend of ₹three per fairness share.
In a observe, the corporate stated company assessees got the choice to use for decrease earnings tax price with impact from April, 1 2019. MRF was within the strategy of evaluating the influence of availing the stated possibility and accordingly, no impact on this regard has presently been thought of within the measurement of tax expense for the quarter, the corporate stated within the observe.
Shares of MRF gained 1.49% to shut at ₹64,422.25 on the BSE on Friday.