MRF posts 11.7% growth in net profit

Total income from operations stood at Rs 3148 crore for the quarter

Tyre manufacturer MRF Ltd has posted a growth of 11.74% in net profit at Rs 184.10 crore for the quarter ended September 30, 2013, as against Rs 164.76 crore for the same period of previous fiscal year.

The total income from operations stood at Rs 3,147.45 crore for the quarter as compared to Rs 2,993.12 crore for the same quarter of previous year, an increase of 5.16%.

The company's exports for the year ended September 30, 2013 was at Rs 1,293 crore as against Rs 1,281 crore for the previous year.

"Whilst the automobile industry is going through a recession which has impacted the overall demand from the original equipment manufacturers, our brand equity and distribution network in the aftermarket has helped us to prevail over the situation," said the company announcement. In addition, measures have been taken to improve overall operating performance, it added.

The consolidated net profit for the year ended September 30, 2013, increased 39.56% to Rs 808.60 crore as compared to Rs 579.40 crore posted during the year ended September 30, 2012. The total income from operation during the period saw a growth of 2.35% at Rs 12,248.22 crore, as against Rs 11,967.32 crore for the year ended September 30, 2012.