Hit by spike in raw material cost, MRF net profit dips 54% to Rs 189 cr

The company's revenue from operations was up 16% YoY to Rs 4,908 crore

Tyre industry major MRF Ltd has posted a 54 per cent drop in its consolidated net profit for the second quarter of the current financial year to Rs 189 crore, from Rs 411 crore during the July-September quarter of 2020-21, mainly owing to higher raw material prices.

The company’s revenue from operations was seen up by 16 per cent from Rs 4,244 crore during Q2 2020-21 to Rs 4,908 crore during the same period in 2021-22. During the period under review, the cost of raw materials saw an increase of 69 per cent to Rs 3,839 crore as compared to