October-December profits up 20% at MRF Ltd

India’s largest tyre maker, MRF Ltd, has announced its unaudited standalone results for the quarter ending 31 December 2015. The company reports total income of Rs 33786.3 million (£349.9 million) for the period, 2.9 per cent less than the October to December 2014 quarter. Net profit stood at Rs 3881.5 million (£40.2 million) for the quarter, 20.0 per cent higher than a year earlier.

The three month period was the fifth ‘quarter’ in MRF’s current financial year, which runs from 1 October 2014 to 31 March 2016. Last July, the MRF Ltd Board of Directors approved a change in the company’s financial year from ‘October – September’ to ‘April – March’, in order to comply with Section 2(41) of the Companies Act, 2013.