MRF records over 71% yoy decline in PAT to Rs149.39 crore during Q3FY22, revenue logs single-digit growth

10 Feb 2022 , 04:23 PM

MRF Ltd. announced its results for the quarter and nine months ended December 2021. The company reported a single-digit increase in its revenue from operations, however, its net profit for the quarter dipped significantly.

The company reported consolidated revenue from operations of Rs4,920.13 crore for Q3FY22 as against Rs4,641.60 crore for Q3FY21, reporting growth of 6% yoy. Its consolidated revenue for the 9M period ended December 2021 was reported at Rs14,011.90 crore as against Rs11,346.73 crore for the previous 9M period, registering a growth of 23.50% yoy.

The company’s PBT stood at Rs202.34 crore for December 2021 quarter, as against Rs690.31 crore for the previous corresponding quarter, down by 70.69% yoy. PBT for the 9M period ended December 2021 narrowed by 47.21% yoy at Rs679.89 crore as against Rs1,287.85 crore for the same period last year.

Company’s PAT for the 9M period ended December 2021 stood at Rs504.03 crore as against Rs944.92 crore for the corresponding 9M period, reflecting a decline of 46.66% year-on-year. PAT declined by 71.30% yoy at Rs149.39 crore for Q3FY22 as against Rs520.54 crore for the same quarter last year.

MRF’s stock sheds 0.89% or Rs626.60 in today’s trade to settle at Rs69,800 against previous closing price of Rs70,426.60 on BSE.