MRF LTD. Announces Quarterly Results (3QFY20); Net Profit Down 15.3%

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MRF LTD. Announces Quarterly Results (3QFY20); Net Profit Down 15.3%
Wed, 12 Feb

MRF LTD. has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

MRF LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m40,33839,47640,0891.6%-0.6%
Other incomeRs m1,258948733-22.6%-41.7%
TurnoverRs m41,59540,42440,8221.0%-1.9%
ExpensesRs m34,81934,06833,987-0.2%-2.4%
Gross profitRs m5,5195,4086,10212.8%10.6%
DepreciationRs m2,0522,3722,4905.0%21.3%
InterestRs m6316657045.9%11.6%
Profit before taxRs m4,0933,3193,6419.7%-11.0%
TaxRs m1,3001,1151,27514.3%-1.9%
Profit after taxRs m2,7932,2042,3667.4%-15.3%
Gross profit margin%13.713.715.2
Effective tax rate%31.833.635.0
Net profit margin%6.75.55.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 0.6% on a year-on-year (YoY) basis. The expenses were down by 2.4% YoY during the same period.
  • The company's operating profit increased by 10.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.2% in 3QFY20 as against 13.7% in 3QFY19.
  • Depreciation charges increased by 21.3% and finance costs increased by 11.6% YoY, respectively.
  • Other income declined by 41.7% YoY during the quarter.
  • Net profit for the quarter declined by 15.3% YoY. Net profit margins during the quarter declined from 6.7% in 3QFY19 to 5.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.2% QoQ during the same period.
  • The company's operating profit increased by 12.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.2% in 3QFY20 as against 13.7% in 2QFY19.
  • Net profit for the quarter increased by 7.4% QoQ, while net profit margins increased from 5.5% in 2QFY19 to 5.8% in 3QFY20.

To see how MRF LTD. has performed over the last eight quarters,please visit here.

Last Day: Discover India's #1 defence stock now

MRF LTD. Share Price Performance

Over the last one year,MRF LTD. share price has moved up from Rs 55,346.5 to Rs 71,777.6, registering a Gain of Rs 16,431.1 or around 29.7%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 71,777.6, the price to earnings (P/E) ratio of MRF LTD. stands at 29.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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