In its Q1 results, MRF (Madras Rubber Factory) reported a 3% year-on-year decline in profit, amounting to ₹571 crore. Despite this drop in profitability, the company’s revenue experienced a notable increase of 12%, reaching ₹5,100 crore.
The decline in profit can be attributed to rising raw material costs and increased competition in the tire market. However, MRF’s revenue growth reflects strong demand across various segments, including passenger vehicles and two-wheelers.
The company continues to focus on expanding its product offerings and enhancing operational efficiency to navigate the challenging market landscape. MRF’s management remains optimistic about future growth, citing ongoing investments in technology and innovation to strengthen its market position.
Overall, while MRF faced profitability challenges, its revenue growth indicates resilience and potential for recovery in the upcoming quarters.