MRF Q4 Result: Net Profit Falls 51 Percent To INR 332.15 Crore
Published On 09-Jun-2021
The tyremaker had posted a net profit of INR 679.02 crore in the January-March quarter of 2019-20
Homegrown tyre major MRF has reported 51% decline in its consolidated net profit at INR 332.15 crore for the quarter ended March 31.
The tyremaker had posted a net profit of INR 679.02 crore in the January-March quarter of 2019-20.
"The second phase of the pandemic has affected our business with the continuing lockdown in different parts of the country. It is hoped that in a month or two the situation across the country will become more stable enabling the business to get back to normalcy," MRF said in a statement.
Its total income for the quarter, however, increased by 30% to INR 4,874.20 crore, compared to INR 3,745.21 crore in the year-ago period, MRF said in a regulatory filing.
MRF Tyres standalone total income for the financial year 2019-20 was Rs 16128.58 crore compared to INR 16321.64 crore in the previous year.
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After making provision for taxes, the standalone net profit for the year ended March 31, 2021 was INR 1249.06 crore as against INR 1394.98 crore in the previous financial year.
Source: ET AUTO