MRF reports 39 per cent jump in net profit at Rs 353.98 cr

CHENNAI: Tyre manufacturer MRF today reported a 39 per cent jump in its net profit at Rs 353.98 crore for the year ended September, 2010, over the corresponding period a year ago.

For the year ended September 30, 2009, the city- headquartered company had reported a net profit of Rs 253.03 crore, the company said in a statement here.

The total income of the company for the year ended September, 30, 2010 rose by 31.50 per cent to Rs 8,122.42 crore from Rs 6,176.34 crore a year ago, it said.

The Board of Directors at its meeting held today recommended a final dividend of Rs 19 per share for the year 2010. In addition, the directors also recommended a special dividend of Rs 25 per share in view of the 50th year of the company, it said.

With the two interim dividends of Rs three each paid early this year, the aggregate dividend for the year is Rs 50 (500 per cent), it said.

Backed by the strong growth of automobile industry, the company said it has recorded the highest growth in a single year.

The unprecedented increase in the price of natural rubber and other raw materials continues to be a matter of concern, the statement added.