Leading tyremaker MRF has reported a marginal increase in its net profit at ₹490 crore for the quarter ended June 30, 2016, compared with ₹480 crore in the year-ago period, because of a fall in operating profit.
Though material costs were lower, a weak topline growth impacted the performance during the quarter.
Net sales of the company stood at ₹3,463 crore during this April-June quarter when compared with ₹3,454 crore in the year-ago quarter.
Its profit before other income, finance costs and exceptional items stood at ₹698 crore (₹708 crore). Raw material costs were lower at ₹1,725 crore (₹1,819 crore). Other income was higher at ₹74 crore (₹43 crore).