The tyre major's consolidated net profit fell 3.01% to Rs 571.02 crore in Q1 FY25 as compared with Rs 588.75 crore posted in Q1 FY24.
However, revenue from operations grew by 11.74% to Rs 7,196.45 crore in Q1 FY25 from Rs 6,440.29 crore recorded in Q1 FY24.
Profit before tax in Q1 FY25 was at Rs 762.91 crore, down 3.07% as against Rs 787.06 crore reported in the same period a year ago.
Total expense jumped 13.79% year on year to Rs 6,517.58 crore during the quarter. Cost of materials consumed was at Rs 4370.55 crore (up 15.6% YoY) while EMPLOYEE benefits expense stood at Rs 457.58 crore (up 7.87% YoY) during the period under review.
On the margins front, the company's operating margin reduced to 10.61% in Q1 FY25 as compared with 12.37% recorded in Q1 FY24. Net profit margin declined to 7.84% in Q1 FY25 from 9.04% registered in Q1 FY24.
MRF is engaged in the manufacture of rubber products such as tyre, tubes, flaps, tread rubber and/or trading in rubber and rubber chemicals.
Shares of MRF rallied 4.66% to Rs 1,40,935 on the BSE.
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