MRF shares up over 3 pc on robust Q2 earnings

Stocks of tyre manufacturer MRF today rose by over 3 per cent after the company reported a 94.66 per cent jump in standalone net profit for the quarter ended March 31.
The stock ended at Rs 40,077, up 3.44 per cent from its previous close on the BSE. During the day, it surged 4.78 per cent at Rs 40,599.95.
At the NSE, it went up 3.28 per cent to settle at Rs 40,014.25.
MRF today reported a 94.66 per cent jump in standalone net profit at Rs 332.62 crore for the quarter ended March 31 on account of lower expenses.

The firm had posted a net profit of Rs 170.87 crore for the same period in previous fiscal.
However, net sales of the company rose marginally to Rs 3,310.61 crore for the second quarter compared with Rs 3,297.4 crore in the same period of previous fiscal, MRF said in a filing to the BSE.
MRF follows September-October as its financial year.
The broader market barometer Sensex ended at 27,735.02, down 155.11 points.