Tyre maker MRF today reported 18.86 per cent decline in net profit at Rs 170.87 crore for the quarter ended March 31, 2013.
The Chennai-based tyre manufacturer had posted a net profit of Rs 210.61 crore for the same period of previous fiscal.
However, net sales of the company rose to Rs 3,297.40 crore for the second quarter as compared to Rs 2,904.77 crore in the same period of previous fiscal, MRF Ltd said in a filing to the BSE.
MRF Ltd follows September-October as its financial year.
MRF shares today closed at Rs 21,801 apiece on the BSE, down 7.48 per cent from its previous close.