 "MRF gains on strong September quarter results")
Shares of MRF has moved higher by 4% to Rs 32,901 on NSE after reporting a strong 72% year on year growth in its standalone net profit at Rs 317 crore for the quarter ended September 2014, on back of strong operational performance. The tyre maker had profit of Rs 184 crore in the same quarter last year.
Net sales of the company during the quarter under review grew 6.8% to Rs 3,359 crore, while total expenditure increased by 2% to Rs 2,865 crore over the previous year quarter.
EBITDA or operating profit margin expanded by an over 400 bps to 18.07% from 13.84%.
Meanwhile, the board of directors of the company has recommended a final dividend of Rs 44 per share.
The stock opened at Rs 31,723 and touched a high of Rs 33,200 on NSE. A combined 40,416 shares changed hands on the counter till late noon deal on NSE and BSE.
Net sales of the company during the quarter under review grew 6.8% to Rs 3,359 crore, while total expenditure increased by 2% to Rs 2,865 crore over the previous year quarter.
EBITDA or operating profit margin expanded by an over 400 bps to 18.07% from 13.84%.
Meanwhile, the board of directors of the company has recommended a final dividend of Rs 44 per share.
The stock opened at Rs 31,723 and touched a high of Rs 33,200 on NSE. A combined 40,416 shares changed hands on the counter till late noon deal on NSE and BSE.