MRF gains on strong Q2 earnings
EBITDA margin has improved by over 400 bps to 15.28% for the quarter ended March 2013 against 10.94% in the corresponding quarter of the previous year.
MRF has moved higher by almost 4% to Rs 12,776 after reporting a healthy 41% year-on-year (yoy) jump in net profit at Rs 211 crore for the second quarter ended March 2013 (Q2) due to lower raw material cost. The country’s top tyre-maker had a profit of Rs 150 crore in the same quarter last year.
EBITDA margin has improved by over 400 bps to 15.28% for the quarter ended March 2013 against 10.94% in the corresponding quarter of the previous year.
“Total income from operations however, fall 2.9% at Rs 2,906 crore on yoy basis,” MRF said in a BSE filing.
The company’s raw material expenditure has declined by 8.4% to Rs 1,823 crore from Rs 1,990 crore during the recently concluded quarter.
The stock opened at Rs 12,320 and hit a high of Rs 12,825 after announcement of results on BSE. A combined 36,775 shares have changed hands on the counter so far on BSE and NSE.
EBITDA margin has improved by over 400 bps to 15.28% for the quarter ended March 2013 against 10.94% in the corresponding quarter of the previous year.
“Total income from operations however, fall 2.9% at Rs 2,906 crore on yoy basis,” MRF said in a BSE filing.
The company’s raw material expenditure has declined by 8.4% to Rs 1,823 crore from Rs 1,990 crore during the recently concluded quarter.
The stock opened at Rs 12,320 and hit a high of Rs 12,825 after announcement of results on BSE. A combined 36,775 shares have changed hands on the counter so far on BSE and NSE.