MRF gains after stellar Q1 performance

MRF rose 3.59% to Rs 82,000 after the company's consolidated net profit surged to Rs 165.58 crore in Q1 FY22 compared with Rs 13.46 crore in Q1 FY21.

Revenue from operations jumped 70% YoY to Rs 4,183.96 crore during the quarter. As compared with Q4 FY21, however, the company's net profit and revenue have declined by 50.1% and 13.1%, respectively.

Profit before tax in Q1 FY22 stood at Rs 222.34 crore as against Rs 26.08 crore in Q1 FY21. Current tax outgo at Rs 57.30 crore, was lower by 22.5% YoY during the period under review.

MRF manufactures and distributes tyres and tubes for automobiles, aircrafts, motorcycles and cycles.

 

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