Tyre major MRF has reported a total income of Rs. 22,706.28 crore for the 18-month March 31, 2016 as against Rs. 14,714.41 crore for the previous 12 months ended September, 2014. Profit before tax stood at Rs. 3,410.27 crore for the 18-month period as against Rs. 1,338.89 crore for the previous 12 months. After making provision for income tax, the net profit for the 18-month period stood at Rs. 2,327.72 crore as against Rs. 897.89 crore for the previous 12 months. Exports for the 18 months period ended March,2016 stood at Rs. 1,856 crore as against Rs. 1,332 crore for the previous 12 months.
The board of directors, which met on Tuesday, recommended a final dividend of Rs. 94 per share [940%] for the 18 months period. 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 [1,000%].
"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,’’ said a company release.
