MRF Q2 Results Live: MRF announced its second quarter results on November 8, 2024, revealing a mixed performance with revenue increasing 10.68% year-on-year, while profits took a hit, decreasing by 19 .77% over one year.

Compared to the previous quarter, MRF recorded a revenue decline of 4.38% and a profit decline of 17.57%. This indicates the potential challenges the company faces in maintaining profitability despite an increase in revenue.

The company’s selling, general and administrative expenses increased significantly, up 4.41% quarter-over-quarter and 7.71% year-over-year, contributing to pressure on profitability.

Operating income saw a sharp decline, down 21.19% quarter-over-quarter and 25.29% year-over-year, indicating difficulty in controlling costs and maintain margins in a context of increasing expenses.

Earnings per share (EPS) amounted to ₹1109.85 for the second quarter, reflecting a decline of 19.77% year-on-year, further highlighting the challenges the company is facing during this quarter.

In terms of market performance, MRF returned -1.22% last week, -4.12% over the past six months, and -6.6% year-to-date, prompting concerns among investors.

Currently, MRF has a market capitalization of ₹51,328.84 crore, with a 52-week high of ₹151445 and a minimum of ₹107033.05, indicating significant volatility in its stock price.

Analyst sentiment appears to be overwhelmingly negative, with 6 out of 9 analysts recommending ‘strong sell’, 1 recommending ‘sell’ and 2 suggesting ‘hold’. The consensus recommendation as of November 9, 2024 was “strong sell.”