Net sales for Q4 grew to Rs 3,865.38 crore, up 4 percent against Rs 3,712.84 crore posted in Q4FY17.
Moneycontrol News
MRF posted a 20.4 percent year-on-year increase in net profit at Rs 345.32 crore in the fourth quarter of FY18. In Q4FY17, the net profit was Rs 286.77 crore.
Net sales for Q4 grew to Rs 3,865.38 crore, up 4 percent from Rs 3,712.84 crore posted in Q4FY17.
A Reuters poll had estimated net profit of Rs 405 crore on sales of Rs 3941 crore.
In a results release, the company pointed out the escalation in the cost of crude based inputs remains a concern and will add pressure to the bottom-line.
At the same time, the competitive intensity in the industry continues to remain at fever-pitch due to anticipated ‘on—streaming’ of several greenfield and brownfield capacities by many players in the months ahead, the company noted.
The Chennai-based company and India's largest tyremaker has been able to pass on some of the natural rubber cost pressures as well as get some respite from the anti-dumping duty slapped on Chinese tyres, which had hurt demand in earlier months.