MRF shares decline 1.25% on muted earnings growth

BL Internet Desk | Updated on November 11, 2019 Published on November 11, 2019

Shares of MRF Ltd fell over 1 per cent today after the company reported muted earnings for the second quarter ended September 2019. The stock declined Rs 809 or 1.25 per cent to Rs 63,644.90 on the NSE. Volumes traded in the counter were 1,068 shares as at 10 am today.

Similarly, on the BSE, the stock lost Rs 766.30 or 1.19% to Rs 63,655 traded with a meagre volume of 77 shares.

MRF reported 17.73% decline in consolidated net profit at INR 228.96 crore for 2QFY20. The company had posted a profit of INR 278.29 crore for the year-ago period. Revenue from operations stood at INR 4,007.63 crore as against INR 3,946.77 crore in 2QFY19, a growth of 1.57%.

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Published on November 11, 2019
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