India's MRF tumbles after Q3 profit misses expectations

MRF

06/02/2025 07:40

** Shares of tyre maker MRF  MRF.NS  fall 3.7% to 110,589
rupees, on track for biggest intra-day drop since June 4, if
losses hold
    ** Co reports ~40% year-on-year drop in Q3 profit from
continuing operations to 3.07 billion rupees ($35.1 million),
which also misses analysts average estimate of 4.20 billion
rupees
    ** Co hurt by a 21% rise in total expenses during the
quarter
    ** More than 9,400 shares change hands, 1.5x its 30-day avg
    ** Nine analysts covering the stock on avg have a "sell"
rating; median PT is 120,000 rupees - LSEG data



($1 = 87.5600 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))