Auto tyre and rubber products manufacturer MRF today reported a 14.42% decline in net profit to Rs 102.18 crore for the quarter ended December 31, 2010.
The company had posted a net profit of Rs 119.41 crore for the October-December quarter last fiscal, MRF said in a filing to the Bombay Stock Exchange (BSE).
The decline in the company's bottomline came despite a sharp rise in MRF's net sales to Rs 2,165.80 crore in the December quarter from Rs 1,653.84 crore in the same period last year, it added.
Shares of MRF closed at Rs 5,563 on the BSE today, down marginally from the previous close.