How were the quarterly results of MRF Ltd?

MRF Ltd, one of India’s largest manufacturers of high resistance tyres, reported a 12-fold spike in consolidated net profits Rs.166 crore. The profit growth was driven by a near doubling of sales revenues at Rs.4,184 crore with other income also doubling to Rs.92 crore. MRF has benefited from a sharp gain in auto demand driving demand for tyres. It has also improved its coverage ratios by fulling redeeming NCDs worth Rs150 crore.