Latest News | MRF Shares Climb over 2 Pc as Q4 Net Profit Jumps Two-fold

New Delhi, May 4 (PTI) Shares of MRF climbed more than 2 per cent in morning trade on Thursday after the company's consolidated net profit surged over two-fold for the March quarter.

The stock of the tyre maker advanced 2.21 per cent to Rs 95,600 apiece on the BSE.

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At the NSE, it climbed 2.26 per cent to Rs 95,677.10 a share.

MRF on Wednesday said its consolidated net profit surged over two-fold to Rs 341 crore for the March quarter, riding on lower raw material cost.

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The company had reported a net profit of Rs 165 crore in the January-March quarter of 2021-22 fiscal from the continuing operations.

Revenue from operations rose to Rs 5,842 crore for the fourth quarter, as against Rs 5,305 crore in the year-ago period, MRF Ltd said in a regulatory filing.

For the full-year ended March 31, 2023, the tyre major reported a net profit of Rs 769 crore, as compared to Rs 669 crore in the fourth quarter of 2021-22 fiscal.

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