Three-month profits, sales soar at MRF

ERJ staff report (DS)

Chennai, India -- Sales and profits for the three months ended 30 June 2009 have rocketed at Indian tyre maker, MRF Ltd, despite labour unrest at its plants at Arkonam and Puducherry. The company saw net sales increase by nearly 13 percent to Rs 14 832 million (Euro 209.4 million) in the quarter. For the none months to 30 June, sales increased even faster, to Rs 41 960 million, from Rs 36 448 a year earlier.

Operating profit for the three months more than tripled, to Rs 1908 million (euro 27.8 million) from Rs 600 million a year earlier. Profit for the none months since September 2008 rose to Rs 2732 million from Rs 2581 million.

After-tax profits for the three-months quadrupled to Rs1257 million (euro 18.3 million) from Rs 319 million a year ago.

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Press release from MRF

MRF posts 4-fold growth in Q1 net The Hindu Business Line (India)

MRF Q3 net profit zooms by 294.5 per cent at Rs. 125.7 crore Wheels Unplugged (India)

MRF posts Rs 126-cr Q3 profit Economic Times (India)

MRF net soars on lower costs, sending shares up Reuters (India)

MRF zooms 20% on four-fold jump in net Business Standard (India)

No immediate hike in tyre prices seen: MRF MoneyControl (India)