MRF net profit rises 20% to Rs 388 crore in Dec quarter

Tyre maker MRF today reported 19.98 per cent rise in its standalone net profit at Rs 388.15 crore for the quarter ended December 31, 2015.
The company had posted a net profit of Rs 323.51 crore during the same period of previous fiscal.
Net sales of the company, however, declined to Rs 3,256.16 crore for the quarter ended December 31 as compared to Rs 3,351.68 crore in the same period of previous year, MRF Ltd said in a regulatory filing.
The company's current financial year is from October 1, 2014 to March 31, 2016.
Last year, the company's board had approved the extension of the fiscal by six months in order to comply with the provisions of the Companies Act, 2013.

Shares of the company today ended 0.69 per cent down at Rs 36,010.65 apiece on the BSE.