| 
Help
India’s leading tyre manufacturer, MRF has reported its financials recently. For a quarter that ended on 30th June, the company, has reported a 78.30 percent fall in its net profit at Rs. 106.53 crore, due to the higher expenses coupled with flat revenues.
In a BSE filing, MRF Ltd. has said that, in the same quarter, during the previous year, the company had made a profit of Rs 490.93 crore. However, the total income during the quarter under review stood at Rs 4060.93 crore compared to Rs 3955.93 crore in the year ago period, up 2.65 percent.
There is also an increase in the total expenses which grew by 21.01 percent to Rs 3926.31 crore during the period as compared to Rs 3244.45 crore in the last fiscal year during the same quarter. The company’s stock closed at Rs 67,400 per piece on BSE yesterday.
K.M. Mammen, Chairman and Managing Director, MRF Tyres while addressing the shareholders said that the owing to the increasing trend of radialisation of commercial vehicles and capacity consolidation, the competition in various segments of the tyre industry will increase. While, Koshy K Varghese, Executive Vice-President (Marketing) of MRF was of the view that due to GST enactment, the dealers across India resorted to de-stocking and failed to counter the increased cost of rubber, this also was one of the reasons for the low income.
BUY MRF CAR TYRES ONLINE IN INDIA | CLICK HERE
