Scrips of MRF slides 1% as company announces Q1 results

Last Updated: Thu, Aug 09, 2018 18:46 hrs
Worker retreads a used rubber tyre at a workshop on the outskirts of Jammu

Chennai headquartered rubber manufacturer and auto-tyre-maker MRF Industries announced its results for the quarter ending June 2018 on Thursday.

Revenue from operations at Rs 3855.55 crores. Previous quarter it stood at Rs 3865.38 crores. In the corresponding quarter, a year ago, the company posted revenue figures of Rs 3971.76 crores.

Total income at Rs 3907.19 crores is 3.79% down from the previous quarter posted a year ago- Rs 4060.93 crores.

Profit before tax stands at Rs 397.14, up from Rs 134.62 crores it posted in the corresponding quarter a year ago.

Although profits were up, the company in it's filing data suggested sales data is the recorded net of GST. "Hence, revenue from operations for the quarter ended 30th June, 2018 is not comparable with the corresponding previous period."

The Stock slided by 1.28% or 982.40 points to Rs 75842.95 in the intra-day session. At 2:48 PM, barely three minutes after the filing data was made public, the scrip sank from 77109.4 on the Bombay Stock Exchange.

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