India's MRF shares slip after June-qtr profit tumbles

MRF

10/08/2022 06:46

Aug 8 (Reuters) - ** Shares of Indian tyre manufacturing company MRF Ltd
 MRF.NS  fall as much as 4.2%, their largest intraday percentage loss since
Jun.7
    ** Company says consolidated June-quarter profit slumped 25.35% to 1.24
billion rupees ($15.59 million) after cost of materials consumed jumped 26.53%
 urn:newsml:reuters.com:*:nFWN2ZL0MM
    ** Rev from ops jumped 36.14% to 56.96 bln rupees
    ** Board also approved raising up to 1 bln rupees via a debt issue 
    ** About 3,843 shares traded by 0427 GMT, 0.4 times the 30-day moving avg of
9,469 
    ** MRF shares up 14.88% YTD 

($1 = 79.5300 Indian rupees)

 (Reporting by Navamya Ganesh Acharya)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))