 "Cheaper Chinese import continues to affect the domestic industry in the truck and bus radial segment")
Tyre major MRF Ltd on Friday reported 95.07 per cent decline in consolidated net profit from continuing operations at Rs 13.46 crore for June quarter impacted heavily by the coronavirus pandemic.
In the year-ago period, the company's consolidated net profit from continuing operations was Rs 273.27 crore, MRF said in a regulatory filing.
Revenue from operations in the period under review stood at Rs 2,460.70 crore as against Rs 4,470.82 crore in the corresponding quarter last fiscal, it added.
"Covid-19 pandemic has severely affected the business environment and the economy," MRF said.
The group's plants, offices and godowns were closed when the nationwide lockdown
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