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.
