MRF has reported 72 per cent rise in its net profit at Rs.317 crore for the quarter ended September 30, 2014, when compared with Rs.184 crore in the year-ago period on the back of a strong operating margin. The said quarter profit was also higher by 39 per cent when compared with April-June 2014 net profit of Rs.230 crore.
Its profit before other income, finance costs and exceptional items stood at Rs.496 crore in the July-September quarter as against Rs.339 crore in the year-ago period. Other income was higher at Rs.25 crore (Rs.12 crore).
Amid sluggish vehicle market conditions, the company registered growth in its top line (net sales) by about seven per cent at Rs.3360 crore during the September quarter when compared with Rs.3146 crore in a year-ago period. A strong focus on the replacement market has helped the company sustain growth.
For the year ended September 30, 2014, MRF’s net profit stood at Rs.898 crore as against Rs.802 crore in the previous year, posting a rise of 12 per cent. Net sales were up nine per cent at Rs.13,190 crore when compared with Rs.12,123 crore.
The board of the company (which follows October-September period as its accounting year) has recommended a final dividend of Rs.44 per share. The aggregate dividend for the year is Rs.50 per share.
