There are signs of a better performance from the truck and commercial industry for the upcoming quarters compared to the last few quarters, said Koshy Varghese of MRF.
On the margin front there has been respite on the rubber front. Rubber prices were soft and largely it is on account of the rubber that our margins have held on.
Koshy K Varghese
Exec VP- Marketing
MRF
Koshy Varghese, executive vice president- marketing, MRF in an interview to CNBC-TV18 shared the details of the company's Q3 performance.
He said the respite seen on operating margin was basically due to soft rubber prices both on domestic and international front.
According to him, the company aims at maintaining margins around the current levels of 14.7%.
The MRF reported net profit at Rs 230 crore for the third quarter ended June 2014 versus Rs 227.3 crore last quarter same period.
The company reported operating margins at 14.7 percent versus 15.8% (Y-o-Y).
There are signs of a better performance from the truck and commercial industry for the upcoming quarters compared to the last few quarters, said Varghese.
Below is the transcript of Koshy Varghese's interview with CNBC-TV18's Menaka Doshi, Senthil Chengalvarayan and Sonia Shenoy.
Sonia: If you can just take us through the margin performance this time around and what has led to this 14.6 percent margins?
A: The topline growth has been fairly marginal about 9 percent odd at about Rs 3300 crore. That in a way reflects to a large extent what has been happening in the automobile industry. Sluggish as it might have been but we have been more or less focused on our after market and that has probably helped us to maintain the volume numbers at the topline, though the OEMs may not have done well.
On the margin front there has been respite on the rubber front. Rubber prices were soft and largely it is on account of the rubber that our margins have held on. Internationally too prices have been soft on natural rubber.
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