Leading Indian tyre manufacturer, MRF, has reported a decrease of 15 percent in its consolidated net profit. The net profit stands at INR. 293.83 crore for the 4th quarter that ended on 31st March 2019. As per the regulatory filing, the company posted INR. 345.32 crore consolidated net profit in Q4 FY 2019.
However, the revenue from operations grew at 6.2 percent and stands at INR. 4,073. 45 crore in the last quarter of FY 2019 as compared to INR. 3,835.50 crore in the same quarter last year. In the last concluded fiscal year, MRF’s net profit grew marginally by 0.4 per cent and stands at INR. 1,096.87 crore as against INR. 1,092.28 crore in FY 2018. Moreover, the revenue from operations increased to INR. 15,837 crore in FY 2019 compared to INR. 15,181.05 crore in FY 2018.
Lately, MRF has expanded its portfolio of two-wheelers tyres by launching Nylo Ezeeride range. According to the tyre maker, this will be the latest product to be available in tube and tubeless versions for both the front and the rear tyres. The range comes in 10 ten sizes to fit most of the popular commuter bikes. Ezeeride tyres are also extended to the Harley-Davidson and Enfield motorcycles.