- Net profit fell by 18% to Rs. 279.3 crore from Rs. 340.5 crore.
- Revenue rose by 6.2% to Rs. 4,034 crore from Rs. 3,799 crore.
- EBITDA dipped by 21.5% to Rs. 552 crore from Rs. 703 crore.
MRF Shares dipped 1% after India’s largest tyre manufacturer reported lower-than-expected numbers on revenue, PAT, EBITDA margin, and EBITDA fronts.
MRF Ltd Q3FY19
Standalone Results Q3FY19: (Rs. in cr)
|EBITDA Margin (%)||13.7|||
|Net Profit (adjusted)||279.26||[18.0]|
Shares of MRF fell 1% in intraday trade on Thursday after the tyre major posted Q3 numbers below street estimates. Shares dipped below the Rs.60,000 mark after it posted a net profit decline of 18%.
India’s largest tyre manufacturer MRF Limited (MRF) reported lower-than-expected numbers in Q3FY19. Standalone revenue was up 6.2% yoy (4% qoq) at Rs.4,034cr, lower than the consensus estimate of Rs.4,179cr. EBITDA was down 21.5% yoy (up 1% qoq) at Rs.552cr. EBITDA margin contracted 483bps yoy and 35bps qoq to 13.7%. Read more.
MRF Ltd is currently trading at Rs.59,150 down by Rs.902.65 or 1.5% from its previous closing of Rs.60,052.65 on the BSE.
The scrip opened at Rs.60,060 and has touched a high and low of Rs.60,812.90 and Rs.59,090 respectively. So far 23,627 (NSE+BSE) shares were traded on the counter.
IIFL Technical View:
MRF Ltd is currently trading at Rs.60,019.10, down by 33.55 points or 0.06% from its previous closing of Rs.60,052.65 on the BSE.
The scrip opened at Rs.60,060 and has touched a high and low of Rs.60,812.90 and Rs.59,090 respectively. So far 19,338 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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