MRF’s Q3 Net Profit Dips

(India/Rubber Asia) MRF, the Indian tyre major, has reported a drop in net profit to 168.8 million rupees in the third quarter ending 30 June 2005, compared with 170.9 million rupees in the same quarter last year.

Net sales in the quarter, however, improved to 7,951.2 million against 6,562.2 million rupees in the same period last year. In the first nine months (October 2004 to June 2005), net profits dipped to 289.6 million rupees against 469 million in the year ago period, even as net sales rocketed to 21,850 million rupees as against 19,050 million in the same period last year.