MRF second quarter results announced: profit fell 19.77% year-on-year

MRF second quarter results live broadcast: MRF announced its second quarter results on November 8, 2024. The results were mixed, with revenue increasing 10.68% year-on-year, while profits took a hit, falling 19.77% year-on-year.

Compared with the previous quarter, MRF revenue fell by 4.38% and profit fell by 17.57%. This suggests that the company faces potential challenges in maintaining profitability despite revenue growth.

The company’s selling expenses, general expenses and administrative expenses increased significantly, with a month-on-month increase of 4.41% and a year-on-year increase of 7.71%, which put pressure on profitability.

Operating income dropped significantly, down 21.19% month-on-month and 25.29% year-on-year, indicating that it is becoming more difficult to control costs and maintain profit margins amid rising expenses.

Earnings per share (EPS) is $In the second quarter, it was 1109.85, a year-on-year decrease of 19.77%, further highlighting the challenges faced by the company this quarter.

Looking at market performance, MRF returned -1.22% last week, -4.12% over the past six months, and -6.6% so far this year, sparking concerns among investors.

Currently, MRF’s market capitalization is $51328.84 Crores, a new 52-week high $151445 and lowest $107033.05, indicating that its stock price fluctuates greatly.

Analyst sentiment appears to be overwhelmingly negative, with 6 out of 9 analysts recommending a “Strong Sell,” 1 recommending a “Sell,” and 2 recommending a “Hold.” The consensus recommendation as of November 9, 2024 is “Strong Sell”.