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MRF’s net profit dipped 58 per cent to Rs 164 crore for the fourth quarter ended September 30. Total income rose 14 per cent to Rs 2,993 crore.
The board of directors has recommended a final dividend of Rs 19 a share for the year 2012. With the two interim dividends of Rs 3 each paid earlier in the year, the aggregate dividend for the year is Rs 25.
MRF’s net profit for the financial year dropped eight per cent to Rs 572 crore (from Rs 619 crore the previous year). Total income from operations rose 22 per cent to Rs 11,870 crore.
Fluctuations in raw material prices, increase in power and fuel cost and depreciation of rupee have impacted the financial performance, said the company in a release.
Exports for the year ended September 30, 2012, were Rs 1,280 crore, against Rs 823 crore the previous year.
During the previous year (2010-11), there was an exceptional credit of Rs 404 crore representing reversal of excess depreciation of earlier years, due to change in method of depreciation from written down value to straight line method.
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