MRF sales, profits up

India’s MRF Ltd has posted net profit of Rs 3.76 billion (£39.1 million) for the quarter ended 31 March 31, 2016, up 7.6 per cent year-on-year. Total income increased 3.7 per cent to Rs 34.56 billion (£359.2 million).

The tyre maker’s financial year – which on this occasion lasted 18 months – also ended on 31 March 2016. MRF Ltd reported a net profit of Rs 23.28 billion (£242.0 million) for the 18 month year, with total income amounting to Rs 204.29 billion (£2.1 billion) for the period.