Financial Daily from THE HINDU group of publications
Wednesday, Dec 21, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 21, 2005 |
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Corporate Results
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Tyres MRF net up at Rs 40 cr Our Bureau
Chennai , Dec. 20 MRF Ltd has reported a net profit of Rs 40.31 crore for the year 2004-05 (ended September 30). This represents a 40-per cent growth over Rs 28.8 crore for the previous year. The company's board has recommended a final dividend of Rs 14 a share, taking the total dividend for the year to Rs 20 (or 200 per cent). However, net profit is after an exceptional item of expenditure of Rs 4.18 crore, compared with Rs 43 crore last year. Otherwise, the company's profits would have taken a big hit, which is reflected in the steep decline in profit before tax. PBT stood at Rs 59.52 crore compared with Rs 84.23 crore. The company has explained in a press release that the decline in profitability was due to "unprecedented surge in cost of oil-based raw material and natural rubber." In the fourth quarter of last year, the company's net profit amounted to Rs 39.53 crore (Rs 15.81 crore).
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