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MRF Q1 net grows 2.3% at Rs 491 cr

Optimism exists, but there are also uncertainties: MRF CMD

  MRF Ltd has posted a growth of 2.37 per cent in net profit to Rs 491 crore during the quarter ended June 30, 2016 as compared to Rs 479.54 crore during the same quarter of previous year.

The total income from operations stood at Rs 3,481.97 crore as against Rs 3,477.17 crore posted during the corresponding quarter of previous fiscal year.

The company said that it has secured secured redeemable non convertible debentures of the company aggregating to Rs 500 crore through legal mortgage of its land in Gujarat and hypothecation through first charge on plant and machinery at its manufacturing plant in Trichy.