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MRF Ltd reported a 6 per cent drop in net profit for the second quarter ending March 31, compared with that of the corresponding quarter of the previous year .
It reported a net profit of Rs 89.85 crore on net sales of Rs 2,381.56 crore for the second quarter, (compared with a net profit of Rs 95.82 crore on net sales of Rs 1,767.58 crore).
On the NSE, the company's shares closed at Rs 6,572.20, against the previous close of Rs 6,507.20.
Transfer of division
A press release from the company said the transfer of the Specialty Coating Division to a wholly-owned subsidiary has been approved by postal ballot by shareholders with effect from April 1.
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