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CHENNAI: MRF Ltd has reported a net profit of Rs 11.30 crore on income from operations of Rs 686.93 crore for the first quarter ended December 31, 2004. This represents a 32 per cent drop in net profits when compared to the corresponding period in the previous year when the company reported a net profit of Rs 16.62 crore on an income of Rs 628.30 crore.

During the previous accounting year ended September 30, 2004, the company reported a net profit of Rs 28.80 crore on an income of Rs 2,580 crore.

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