MRF Q2 Results Live: Profit Falls by 19.77% YOY

MRF Q2 Results Live : MRF declared its Q2 results on November 8, 2024, revealing a mixed performance with a revenue increase of 10.68% year-on-year, while profits took a hit, decreasing by 19.77% year-on-year.

Compared to the previous quarter, MRF saw a revenue decline of 4.38% and a profit decrease of 17.57%. This indicates potential challenges the company is facing in maintaining its profitability despite a rise in revenue.

The company's selling, general, and administrative expenses have risen significantly, up 4.41% quarter-on-quarter and 7.71% year-on-year, contributing to the pressure on profitability.

Operating income faced a steep decline, down by 21.19% quarter-on-quarter and 25.29% year-on-year, indicating a struggle to control costs and maintain margins amidst rising expenses.

Earnings per share (EPS) stood at ₹1109.85 for Q2, reflecting a decrease of 19.77% year-on-year, further highlighting the challenges faced by the company in this quarter.

In terms of market performance, MRF has delivered a -1.22% return in the last week, -4.12% over the last six months, and -6.6% year-to-date, raising concerns among investors.

Currently, MRF holds a market capitalization of ₹51328.84 crore, with a 52-week high of ₹151445 and a low of ₹107033.05, indicating significant volatility in its stock price.

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