MRF shares soar as quarterly revenue jumps 12%

8 Aug 2024 , 03:53 PM

On Thursday, MRF Ltd. shares surged up to 5% following the company’s quarterly results announcement For the June quarter, MRF reported a net profit of ₹562.5 Crore, marking a 3.3% decline from ₹581.5 Crore in the same quarter last year.

Revenue for the quarter rose by 12% to ₹7,077.8 Crore, compared to ₹6,323.3 Crore in the previous year. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) increased by 2.1% year-on-year, reaching ₹1,137.8 Crore.

The EBITDA margin narrowed by 160 basis points to 16.1% from 17.6% the previous year. MRF’s other income for the quarter grew by 12% year-on-year to ₹82.7 Crore.

At the time of writing on August 08, 2024 at 3:37 pm, shares of MRF Ltd is trading at ₹1,39,893 which is a 3.93% gain than the previous close. MRF Ltd shares has gained a total of 29% in the last one year and 8% since the beginning of the year.

No dividend was declared for this quarter; however, MRF announced a record final dividend of ₹194 per share in the previous quarter.

The company had also issued two interim dividends of ₹3 each during the 2024 financial year, totaling a payout of ₹200 per share, or 2,000% on shares with a face value of ₹10.