MRF Apr-June net halves as input costs surge

Newswire

MUMBAI, July 28 (Reuters) - MRF Ltd , India's top tyremaker on Wednesday said net profit for April-June nearly halved, despite robust sales, hurt by soaring prices of raw material, especially rubber. The firm reported a quarterly net profit of 615.9 million rupees compared with 1.25 billion rupees a year ago. Net sales rose over 34 percent to 19.24 billion rupees, reflecting strong demand from Indian automakers whose sales are booming. "The quarter was pretty bad for MRF despite the fact ...

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