MRF shares decline 3% after Q4 earnings

PTIUpdated: Monday, June 07, 2021, 08:58 PM IST
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Shares of MRF on Monday dipped 3 per cent after the company reported a 51 per cent decline in its consolidated net profit for the fourth quarter of the fiscal ended on March 31, 2021.

It declined 2.99 per cent to close at Rs 82,391.75 on the BSE. During the day, it went lower by 3.44 per cent to Rs 82,000.

On the NSE, it closed at Rs 82,310, a decline of 3.07 per cent.

The tyre maker on Monday reported a 51 per cent decline in its consolidated net profit to Rs 332 crore for the fourth quarter of the fiscal ended on March 31, 2021.

The company had posted a consolidated net profit from continuing operations at Rs 679 crore for the January-March quarter of 2019-20.

Consolidated revenue from operations stood at Rs 4,816 crore for the fourth quarter as against Rs 3,685 crore in the same period of the financial year 2019-20.

For the entire 2020-21 fiscal, the company reported a consolidated net profit of Rs 1,277 crore as compared with Rs 1,423 crore in 2019-20.

Revenue from operations for the last fiscal stood at Rs 16,163 crore as against Rs 16,239 crore in 2019-20.

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