MRF reports robust net profit of Rs 150 crores

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, April 26, 2012, 13:37 [IST]

Tyre major MRF has reported a net profit of Rs 150 crores for Q2, as against Rs 90 crores reported in the corresponding period of the previous quarter.

Total Income has increased from Rs. 23994.00 million for the quarter ended March 31, 2011 to Rs. 29980.60 million for the quarter ended March 31, 2012.

MRF's EBIDTA margin has also shown a sharp improvement at 10.8% vs 9.2%, year-on-year. The shares of MRF were down marginally by 1.13% and were traded at Rs 11,283 at 1.30 PM IST.

MRF is India's No 1 tyre company and has enjoyed a leadership status for the last 21 years. Established as toy-balloon manufacturing company in 1946 by KM Mammen Mappillai, MRF quickly emerged as the leading maker of tread rubber. Since then, the company hasn't looked back.

The company is expected to continue to do well on the strong growth being witnessed in the auto industry.

GoodReturns.in