SRF net drops 17% in March quarter

MUMBAI: Gurgaonbased SRF Ltd reported a 17% decline in its net profit to Rs 72 crore during the fourth quarter ended March 2013 as against Rs 87 crore in the same period last year. During the quarter, the company’s net sales declined marginally to Rs816 crore.

For the year 2012-13, its consolidated profit has come down by 33% to Rs 253 crore on a turnover of Rs 3,981 crore, which also declined by 5%. The company is the world's second largest manufacturer of both the Nylon 6 tyre cord as well as the belting fabrics.