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Shares of MRF has rallied 8% to Rs 40,745 on BSE after reporting a robust 80% year on year (yoy) jump in net profit at Rs 324 crore for the first quarter ended December 31, 2014 (Q1) on back of strong operational performance. The tyres maker had registered a profit of Rs 180 crore in a year ago quarter.
Total operational income of the company grew 5% yoy at Rs 3,353 crore, while total expenditure declined by 1.3% at Rs 2,842 crore on yoy basis.
Other income rose almost three-fold to Rs 25.62 crore against Rs 9.94 crore in the corresponding quarter of previous year.
The stock opened at Rs 39,550 and hit a high of Rs 41,100 on BSE. Till 1520 hours, a combined 55,119 shares changed hands on the counter on BSE and NSE.
Total operational income of the company grew 5% yoy at Rs 3,353 crore, while total expenditure declined by 1.3% at Rs 2,842 crore on yoy basis.
Other income rose almost three-fold to Rs 25.62 crore against Rs 9.94 crore in the corresponding quarter of previous year.
The stock opened at Rs 39,550 and hit a high of Rs 41,100 on BSE. Till 1520 hours, a combined 55,119 shares changed hands on the counter on BSE and NSE.
