MRF Q1 Results: Stock hits 52-week high as net profit zooms 376% to ₹588 crore
Live MintMRF Q1 Results: MRF announced its April-June quarter results for fiscal 2023-24 on August 3, reporting a consolidated net profit of ₹588 crore, compared to ₹123.60 crore in the corresponding period last year. The tyre-maker's revenue from operations in the first quarter of current ficsal stood at ₹6,440, reporting a rise of 13 per cent, compared to ₹5,695 crore in the year-ago period. On the operating front, the company's earnings before interest, taxes, depreciation, and amortization during the June quarter stood at ₹1,129 crore, compared to ₹493 crore in the year-ago period. “We wish to inform that the present tenure of KM Mammen as Managing Director of the company expires on 07.02.2024 and therefore the board of directors at its meeting held today approved the re-appointment of KM Mammen, as Managing Director of the company for a period of 5 years with effect from 08.02.2024,” said MRF in a regulatory filing to the stock exchanges.