Tyre manufacturer MRF reported a net profit of ₹479.25 crore for Q1 FY27, down 6.52% year-on-year (YoY) from ₹512.67 crore in the same quarter of the previous financial year.
Despite the decline in profit, MRF's revenue from operations increased by around 10% YoY to ₹8,415.50 crore, compared with ₹7,675.64 crore in the corresponding quarter last year.
The company's quarterly results showed pressure on profitability, with higher expenses and a decline in EBITDA weighing on earnings.
MRF Q1 FY27 Results: Profit Falls 6.52%
MRF's consolidated net profit stood at ₹479.25 crore in the June quarter, compared with ₹512.67 crore a year earlier.
This represents a 6.52% YoY decline in profit.
At the same time, revenue from operations increased from ₹7,675.64 crore in Q1 of the previous fiscal year to ₹8,415.50 crore in Q1 FY27.
The contrasting performance indicates that while the company recorded higher revenue, rising costs put pressure on its bottom line.
MRF EBITDA Falls 7.46%
MRF's earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by 7.46% YoY to ₹990.63 crore from ₹1,070.43 crore.
The EBITDA margin also contracted significantly.
According to the company's regulatory filing, the EBITDA margin fell to 11.77% in Q1 FY27, compared with 13.95% in the same quarter last year.
The decline in operating margin indicates continued pressure on profitability despite the company's revenue growth.
MRF Expenses Rise Sharply
Higher expenses were another major factor affecting MRF's quarterly performance.
The company's total expenses increased to approximately ₹7,961 crore, compared with ₹7,132 crore in the corresponding quarter of the previous financial year.
The cost of materials consumed rose to around ₹5,584 crore, up from ₹4,623 crore a year earlier.
This represents an increase of approximately ₹961 crore in material costs and contributed to the pressure on the company's operating profitability.
MRF Share Price Falls After Q1 Results
MRF shares came under pressure after the company announced its Q1 FY27 results.
The stock fell by more than 3% during the trading session. At around 2:45 PM, MRF shares were trading 1.57% lower at approximately ₹1,31,834.20.
The stock has declined around 13% year-to-date, according to the figures cited, although it has gained approximately 65% over the past five years.
Investors are closely watching the stock following the decline in quarterly profit and EBITDA margin.
MRF Dividend: No Dividend Announced for Q1
MRF has not declared a dividend for the quarter, according to the information provided.
Investors will therefore be watching the company's future earnings and capital-allocation decisions alongside the performance of its core tyre business.
MRF Q1 FY27 EPS Declines
MRF's earnings per share (EPS) also declined.
According to the company's regulatory filing, EPS stood at ₹1,167.97 in Q1 FY27, compared with ₹1,183.22 in Q1 FY26.
The figure was also lower than the ₹1,655.80 EPS recorded in Q4 FY26.
For FY26, MRF's EPS stood at ₹5,720.39.
Basic and diluted EPS were the same across the reported periods.
MRF Q1 Results: Key Numbers
Metric Q1 FY27 Q1 FY26 Change
Net Profit ₹479.25 crore ₹512.67 crore Down 6.52%
Revenue from Operations ₹8,415.50 crore ₹7,675.64 crore Up ~10%
EBITDA ₹990.63 crore ₹1,070.43 crore Down 7.46%
EBITDA Margin 11.77% 13.95% Lower
EPS ₹1,167.97 ₹1,183.22 Lower
Total Expenses ~₹7,961 crore ₹7,132 crore Higher
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