MRF’s Q4 Profit Down 15pc, Stock Slips

Indian multinational and the largest tyre manufacturer MRF Limited reported a 15pc declines in its consolidated net profit to Rs.293.83cr during fourth quarter FY19. The Company, in the equivalent year-ago-period had posted a net profit of Rs.345.32-Cr. Revenue rose 6pc to Rs.4,073.45-Cr during the Q4 from Rs.3,835.5-Cr a year ago,  as per the Company’s  regulatory filing.

Meantime, the Company’s BoD has recommended a final dividend of Rs.54 per share, for the year ended 31-March, 2019.

MRF Ltd, in the first afternoon hours of session, traded at Rs.51,850, down by Rs1055 or 1.99% from its previous closing of 52,905.00 on the NSE. The stock opened at Rs.52,605 per share and has touched a high and low of Rs.53,690 and Rs.51,586.30 respectively. Meantime, Sensex trade lower by 33 pts at 38998-level and the Nifty down 31pts at 11717 at 3.12pm, Thursday.

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