Artificial leather maker Mayur Uniquoters Ltd has reported 18.5 per cent rise in net profits at Rs 10.25 crore for the December 2012 quarter.
Profits in the corresponding quarter stood at Rs 8.65 crore. Revenues for December quarter grew 15 per cent to Rs 93.82 crore over the corresponding last quarter’s Rs 81.56 crore.
The company declared an interim dividend of Rs 2.25 a share of Rs 10 each or 22.5 per cent. Suresh Kumar Poddar, Chairman and Managing Director, expects the company to continue posting strong growth in the coming quarters on rapidly rising demand for synthetic leather. The Mayur Uniquoter scrip ended flat at Rs 465.25 on the BSE on Wednesday.