Industry

MRF Q1 profit skids 94%

Tyremaker MRF Ltd.’s standalone net profit for the first quarter ended June plunged 94% to ₹17 crore on account of the pandemic.

Revenue from operations almost halved to to ₹2,431 crore from ₹4,410 crore. Other income stood at 43 crore (₹105 crore) and operating profit at ₹28 crore (₹412 crore), said the company in a regulatory filing.

Total income plunged by almost a third to ₹1,209 crore compared with the March quarter and ₹2,041 crore, or almost a 45% drop) compared with the June 2019 quarter.

As on date, MRF has strong net worth and serviced all its debt obligations in a timely manner, the company said.

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Printable version | Oct 2, 2020 1:06:14 AM | https://www.thehindu.com/business/Industry/mrf-q1-profit-skids-94/article32358918.ece

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