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Tyremaker MRF has reported a 83 per cent rise in Q2 FY21 net profit at ₹403 crore, against ₹220 crore in Q2 FY20, supported by topline growth on the back of revival in demand in the auto sector.
Revenue from operations grew to ₹4,186 crore in the September quarter (₹3,948 crore). Profit before exceptional items and tax stood at ₹562 crore (₹332 crore).
Most of the tyremakers have reported strong growth in the second quarter due to improvement in demand in both OEM and replacement segments.
Industry analysts have pointed out that the rebound following the lifting of lockdown restrictions has been quite strong, especially in the replacement market, which makes up a significant portion of Indian tyremakers’ revenues.
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