MRF sees costs eroding margins; eyes healthy sales

Newswire

MUMBAI, April 29 (Reuters) - MRF Ltd , India's top tyre maker, reported a nearly 40 percent rise in Jan-March net profit but said operating margins may narrow because of a surge in commodity prices. "The EBITDA margins have taken a drop, though our topline has grown. There is a significant cost push, to put it mildly," Koshy Varghese, executive vice president, marketing told Reuters. Prices of natural rubber, a key commodity for tyre makers, had hit a record high of 16,950 rupees earlier ...

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