MRF profit up by 13.01 %

Company expects better fiscal as CV, replacement market are growing, while PV & two-wheeler expects to revive

Tyre manufacturer major MRF Ltd has posted a 13.01 per cent growth in net profit of Rs 375.90 crore for the quarter ended March 31, 2016 as compared to Rs 332.62 crore for the quarter ended March 31, 2015.

The total income has increased by 3.71 per cent from Rs 3,332.77 crore for the quarter ended March 31, 2015 to Rs 3,456.48 crore for the quarter ended March 31, 2016.

The worst seems to be over for the heavy commercial vehicle industry and the current production trends indicate an upswing.

This augurs well for the replacement market demand in the long term. The two-wheeler and passenger car segments continue to be flat in view of the low demand from rural India and it is expected that a normal monsoon may revive demand, said the company.