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MRF to pay Rs.19 as final dividend

Special Correspondent
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MRF could achieve improved performance for the year ended September 30, 2012, despite fluctuations in raw material prices, increase in power and fuel cost and depreciation of rupee.

Total income has increased by around 23 per cent to Rs.13,093.76 crore for the year ended September 30, 2012, from Rs.10,670.17 crore in the previous year. Exports were sharply higher at Rs. 1,280.55 crore against Rs. 823.30 crore.

The profit before taxation stood at Rs. 833.12 crore against Rs.489.42 crore.

During the previous year, there was an exceptional credit of Rs. 404.23 crore, representing reversal of excess depreciation of earlier years, due to change in method of depreciation from written down value (WDV) to straight line method (SLM). Interest charges claimed a larger amount of Rs. 158.78 crore (Rs. 97.67 crore). After making provision for income tax, the net profit stood at Rs.572.35 crore against Rs. .619.42 crore in the previous year.

The directors recommended a final dividend of Rs.19 per share (of face value Rs. 10). With two interim dividends of Rs.3 each paid earlier in the year, the aggregate dividend for the year works out to Rs. 25.


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