MRF Q1FY24 results: Consolidated net profit jumps 376% YoY to Rs 588 crore

The consolidated net profit of MRF Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 376.3 per cent to Rs 588.75 crore, compared to Rs 123.60 crore for the corresponding quarter of the previous year, the company said in a BSE filing.

Sequentially, the net profit was up 72.8 per cent. In Q4FY23, the net profit of the company was Rs 340.67 crore.

The revenue from operations for Q1FY24 came in at Rs 6,440.29 crore, compared to Rs 5,695.93 crore year-on-year (YoY). This is a rise of 13.06 per cent.

Also Read: Varun Beverages Q2 results: Net profit rises 26.2% YoY, revenue up 13.5%

On a quarter-on-quarter (QoQ) basis, the revenue for operations was up 10.24 per cent. It was Rs 5,841.72 crore in Q4FY23.

The total income for Q1FY24 came in at Rs 6,514.98  crore, compared to Rs 5,730.37 crore YoY. This is a rise of 13.69 per cent.

On a QoQ basis, the total income was up 10.20 per cent. It was Rs 5,911.51 crore in Q4FY23.

At 12:50 pm, the MRF Limited stock was trading at Rs 1,05,464.95.

Also Read: After a solid Q1, IndiGo's troubles may mount in Q2FY24, warn analysts