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Our Bureau

Chennai, Dec. 19 MRF has reported a turnover of Rs 5,046 crore for the year ending September 30, 2008 against Rs 4,411 crore previously .

The net profit declined by 16 per cent to Rs 144 crore (Rs 171 crore).

According to a company press release, the volatility in the price of natural rubber as well as crude continued to plague the tyre industry. The steep increase in imports from China has been a matter of concern. The Government will have to take steps to ensure a level playing field.

The company expects that the raw material cost situation will stabilise during the current year.

MRF has provided for a depreciation of Rs 169 crore (Rs 153 crore). There was a marginal growth in exports to Rs 497 crore (Rs 492 crore).

MRF has declared a final dividend of Rs 14 (140 per cent) a share of Rs 10 taking the total dividend to Rs 20 (200 per cent).

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