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Covid-19 impact: MRF profit before tax skids 28% to Rs 292 crore in Q4

The tyre industry has been facing demand problems emanating from the crisis that the auto sector has been facing for some time

MRF tyres
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The company said the Covid-19 pandemic had severely affected the business environment and economy

T E Narasimhan Chennai
Tyre major MRF has reported a 28 per cent drop om profit before tax (PBT) of Rs 291.81 crore during the quarter ended March 31, 2020, from Rs 408.83 crore, a year ago. Total income fell to Rs 3,682.66 crore from Rs 4,182.92 crore.

The company said the Covid-19 pandemic had severely affected the business environment and economy. Due to the lockdown, March 2020 quarter saw a drop in total income of Rs 399.57 crore from the December 2019 quarter and a drop of Rs 500.26 crore year-on-year. Most of the company’s operations have resumed after lifting of the lockdown.