MRF Profits Down in Q3 Despite Increased Sales
Increasing raw material and personnel costs are said to be two of the key factors behind lower net profits for India’s MRF in the financial year’s third quarter. In the three months to June 30, 2008 the Chennai based company experienced a 25 per cent drop in net profits from the corresponding quarter a year earlier, to Rs 318.6 million (£3.74 million). Net profits for the nine months of the current financial year stand at Rs 1.492 billion (£17.5 million), an increase of 39.2 per cent.