MRF Reports 14% Decline in Profit for Q2FY17

Tyre manufacturer MRF yesterday announced its results for Q2FY17. The company reported a 14.36 per cent decrease in standalone net profit at Rs 385.29 crore for the Q2 ended September 30, 2016.  The company had reported a net profit of Rs 449.92 crore in the July-September quarter a year ago.

Yesterday, MRF share price had slipped over 6% on the back of declined net profit. Total income from operation decreased 1.04 per cent to Rs 3,614.63 crore during the quarter under evaluation as against Rs 3,652.78 crore of the corresponding quarter last fiscal. Total expenses were at Rs 3,109.44 crore, up 4.06 per cent, as compared to Rs 2,987.97 crore.

In the first half of the calendar year 2015-16, MRF's' standalone net profit slipped 5.72 per cent to Rs 876.22 crore as compared to Rs 929.47 crore a year earlier. Today, MRF share price traded 3% up to Rs. 47,784.95 on the NSE today rising out of the gloom of its disappointing Q2 result. Total income, in the first half of the current financial year, also declined marginally by 0.46 per cent at Rs 7,497.00 crore as compared to Rs 7,532.17 crore in the same period last financial year.

Meanwhile, in a separate filing, MRF informed BSE that its board of directors in a meeting held today announced an interim dividend of 30 per cent, which is Rs 3 per equity share for the financial year ending March 31, 2017.

At 11:09 Am, MRF share price was trading at Rs. 47674.90, up by 2.74% against 0.31% rise in the Benchmark Index Nifty. So far, nine thousand eight hundred shares were traded over the NSE trading counter. The stock is top 500 recommendations by Dynamic Levels for the quarter. For the details on the levels of support and resistance of MRF, kindly visit MRF share price forecast page of Dynamic Levels website.

MRF Share Price trades at Rs 42,970.00 a Piece on NSE

MRF share price surged up by 6 per cent in today’s trading session. The share price is currently trading at Rs 42,935.00 apiece on NSE. Throughout the day, 26,792 shares of the company have exchanged hands on the counter of NSE against the average trading volume of 12,156 calculated for 20 days.

Fundamentals

• The 52 week high of MRF share price is Rs 43,562.00 on 5th October 2015 and the 52 week low is Rs 30,101.00 made on 24th June 2016.
• The share is trading at a P/E Ratio of 10.01.
• The lifetime high of the share is Rs 46,399.00 made on 5th August 2015 and the lifetime low is Rs 401.00 made on 17th October 2001.
• The book value of the company is 16164.89.
• The market cap of the Company as of today is Rs 17179.94 crore.
• The Company has a turnover amount of Rs 15.60 crore.
• MRF limited have given a monthly return of 12.11 per cent.
• The Promoter holding pledged is 0.46.
• The upper price band is 44,558.55 and the lower price band is 36,457.05.

Share Holding Pattern

• Promoter and Promoter Group (%) - 27.49 per cent for June 2016 as compared to 27.34 per cent for June 2015.
• Institutions (%) - 18.97 per cent for June 2016 as compared to 18.49 per cent for June 2015.
• Non-Institutions (%) - 53.53 per cent for June 2016 as compared to 54.17 per cent for June 2015.

Quarterly Results

The Company posted revenue of Rs 3,481.97 crore for the quarter ended 30th June 2016 against Rs 3,449.55 crore for the quarter ended 31st March 2016. For Q1 FY17 the net profit was Rs 490.93 crore. MRF is one of the Top 500 shares recommended by Dynamic Levels. Get the most important support and resistance levels of the share at MRF share price forecast.