During the early trading hours on 8 August, the shares of MRF were trading flat. However, after the company announced its quarterly earnings for April-June, the shares of the company soared 5% and hit an intraday high of Rs 1,42,500. 

The company in its quarterly earnings reported a 6% year-on-year decline in its consolidated net profit to Rs 571 crore compared to Rs 589 crore reported in the same quarter last year. The company’s net profit was affected due to higher expenses incurred during the quarter.

However, the revenue from operations during the quarter stood at Rs 7,196 crore, marking a 12% You increase from Rs 6,440 crore reported in the same quarter last year.

Cost of materials during the quarter jumped from Rs 3,780.7 crore in Q1FY24 to Rs 4,370.6 crore in Q1FY25, while other expenses rose from Rs 967.9 crore to Rs 1,092.7 crore during the same duration. 

The total expenses of the company for the quarter ended 30 June stood at Rs 6,517.6 crore, which is a 14% YoY increase from Rs 5,727.9 crore in the corresponding quarter preceding year.

On the operating front, the earnings before interest, tax, depreciation, and amortisation (EBITDA) margins contracted to 10.61% during Q1FY25 compared to 12.37% in Q1FY25. 

At 3:30 pm, the shares of MRF closed 3.93% higher at Rs 1,39,893.10 on NSE.

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