Tyre major MRF has posted an increase of 13% in its net profit at Rs 375.90 crore for the quarter ended March as compared to Rs 332.62 crore in the same quarter last fiscal.
The total income of the Chennai-based company has increased to Rs 3456.48 crore from Rs 3332.77 crore, registering a growth of 3.7%. The board of directors has recommended a final dividend of Rs 94 per share (940%) for the 18 months period ended March 31, 2016. With the two interim dividends of Rs 3 each paid during the above period, the aggregate dividend for the period is Rs 100 per share (1000%).
MRF in a statement said that the worst seems to be over for the heavy commercial vehicle industry and the current production trends indicate an upswing. This augurs well for the replacement market demand in the long term. The 2-wheeler and passenger car segments remained flat.
