MRF profit grows 116% to Rs 511.72 cr in Dec quarter, revenue rises 14%

Tyre major MRF reported a profit of Rs 511.72 crore during the quarter ended December 31, 2020, as compared to Rs 236.63 crore in the year ago period, an increase of around 116 per cent.

In the said period, the company's total revenue rose to Rs 4,567 crore from Rs 4008.89 crore in the year ago period, an increase of around 14 per cent.

Meanwhile, the company's stock, which was trading at around Rs 97,000 on Thursday morning, dropped to Rs 94,428.10 (at 12.55 p.m) after the results were announced.