MRF Ltd. reported standalone net profit for the June quarter contracted by 3% from the year-earlier period to ₹563 crore on an increase in raw-material costs.
Revenue from operations increased by ₹755 crore to ₹7,078 crore, while cost of materials increased by ₹597 crore to ₹4,319 crore, said the tyre major in statement.
The results included provision of ₹30 crore towards levy on extended producer responsibility and is accounted under other income.
The consolidated net profit declined by ₹18 crore to ₹571 crore. Revenue surged by ₹756 crore to ₹7,196 crore.
