MRF Q1 Net Profit Down 1.3% at Rs 495.35 Cr

New Delhi: Tyre maker MRF Ltd on Tuesday reported a 1.3 per cent decline in consolidated net profit at Rs 495.35 crore in the first quarter ended June 30, impacted by high raw material costs.

The company had posted a consolidated net profit of Rs 501.82 crore in the corresponding quarter last fiscal, MRF Ltd said in a regulatory filing.

Consolidated revenue from operations in the first quarter stood at Rs 8,415.5 crore as against Rs 7,675.64 crore in the same period a year ago, it added.

Total expenses in the quarter under review were higher at Rs 7,960.87 crore as compared to Rs 7,132.4 crore in the year-ago period, the company said.

Cost of materials consumed in the first quarter were higher at Rs 5,854.23 crore as against Rs 4,622.99 crore in the same period last fiscal, the filing said.

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