 "MRF shares down nearly 4% as Q1 net plunges 78%")
The scrip declined by 4.02 per cent to settle at Rs 66,395.10 on the BSE. Intra-day, the stock dived 5.48 per cent to Rs 65,378.90.
On the NSE, shares of the company slipped 4 per cent to close at Rs 66,361.15 apiece.
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The company has reported a 78.30 per cent dip in its standalone net profit at Rs 106.53 crore for the June quarter, hit by higher expenses.
It had posted a net profit of Rs 490.93 crore during the same period of the previous fiscal, MRF said in a BSE filing.
Total income during the quarter under review stood at Rs 4,060.93 crore as against Rs 3,955.93 crore in the year-ago period, up 2.65 per cent.
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