MRF net profit rises nearly 20% in December quarter

Tyre maker MRF on Monday reported 19.98% rise in its standalone net profit at Rs 388.15 crore for the quarter ended December 31, 2015. The company had posted a net profit of Rs 323.51 crore during the same period of previous fiscal.

Net sales of the company, however, declined to Rs 3,256.16 crore for the quarter ended December 31 as compared to Rs 3,351.68 crore in the same period of previous year, MRF said in a regulatory filing.

ALSO READ: Volkswagen Vento Cup to switch to MRF Tyres, ends deal with JK

The company's current financial year is from October 1, 2014, to March 31, 2016.

Last year, the company's board had approved the extension of the fiscal by six months in order to comply with the provisions of the Companies Act, 2013.

Shares of the company on Monday ended down 0.69% or Rs 248.40 at Rs 36,010.65 a piece on the BSE.