This Article is From Nov 26, 2014

MRF Posts 72 Per Cent Increase in Q4 Profit

MRF Posts 72 Per Cent Increase in Q4 Profit

New Delhi: Tyre maker MRF Ltd on Wednesday posted a 72.14 per cent increase in net profit at Rs 316.91 crore for the quarter ended September 30, on account of robust sales.

The company had posted a net profit of Rs 184.10 crore for the corresponding period a year ago.

Net sales of the company rose to Rs 3,359.91 crore for its fourth quarter of 2013-14, as against Rs 3,145.70 crore in the year-ago period.

MRF follows September-October cycle as financial year.

The Chennai-based tyre manufacturer posted a net profit of Rs 897.89 crore for its financial year ended September 30, up 11.92 per cent from Rs 802.21 crore in 2012-13.

Net sales rose to Rs 13,189.73 crore for 2013-14, as against Rs 12,122.79 crore in the previous fiscal year.

MRF's board, which met on Wednesday, recommended a final dividend of Rs 44 per share on the paid-up capital as of September 30, 2014.

The tyre maker has already paid two interim dividends of Rs 3 each per share during the year.

Shares in MRF, on Wednesday, ended at Rs 33,010.65 apiece on the BSE, up 4.14 per cent from the previous close.