MRF dips on poor Q1FY18 results

MRF Ltd reported its results for the quarter ended March 31, 2017 today. The standalone numbers were largely poor on account of higher raw material costs.

The company's total sales for Q4FY17 came in at Rs 3971 crore, which represents a 6.98 per cent sequential increase and 2.29 per cent YoY increase.

Its operating profit (EBIT) for the quarter amounted to Rs 107.7 crore and its EBIT margin stood at 2.71 per cent.

The company reported PAT of Rs 106 crore. which represents a sequential QoQ decline of 63.03 per cent and a YoY decline of 78.41 per cent.
 
MRF Limited is engaged in manufacture and sales of automotive tyres, tubes and flaps, among others. The company also manufactures rubber products, such as tread rubber and conveyor belt.

The company's stock opened at Rs 68,686 on the BSE. fell 2.5 per cent after the results were declared and closed at Rs 67,400.