MRF reports a 12-fold increase in net profit in Q1

the company had reported a net profit of Rs 13 crore in the April-June quarter of last fiscal. MRF also reported an increase in the revenues from operations.

By Vandana Nampoothiri Published on August 9, 2021, 16:03 IST

MRF reports a 12-fold increase in net profit in Q1

Tyre Giant, MRF reported a 12 fold increase in its consolidated net profit at Rs 166 crore for the first quarter ended June 30, reported PTI.

As reported by PTI, the company had reported a net profit of Rs 13 crore in the April-June quarter of last fiscal. MRF also reported an increase in the revenues from operations. In quarter 1 (Q1) of the fiscal year 2021-22, the company’s revenue rose to Rs 4,184 from Rs 2,461 in Q1 of FY20.

In Q4 of the fiscal year 2020-21, which ended on March 31, there was a 51 per cent decline in its consolidated net profit, reported PTI.

MRF shares were trading 3.16 per cent up at Rs 82,020.25 apiece on BSE.

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Vandana Nampoothiri

Vandana Nampoothiri is pursuing masters in Mass Communication and Journalism from St. Joseph's College (Autonomous), Bengaluru. She is currently working as a Journalism intern at Business Upturn.