Raw materials costs jump at MRF

ERJ staff report (DS)

Chennai, India -- MRF Ltd saw slightly lower profits on much higher sales, despite massively increased raw materials costs in the three months to 31 December 2010.

The company saw net sales jump to Rs 21658 million (euro 350 million) from Rs 16 538 million a year earlier. Raw material costs jumped to Rs 15 529 million to Rs 10 663 million. However, operating profits were stable at Rs 1670 million, down slightly from Rs 1851 million.

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Press release from MRF via BSE stock exchange