The Hindu : MRF to pay 140 p.c. final

Online edition of India's National Newspaper
Saturday, Dec 20, 2003

Business

Business

MRF to pay 140 p.c. final

By Our Special Correspondent

CHENNAI DEC. 19. The board of MRF today approved a final dividend of 140 per cent for the year ended September 2003. The company had already paid two interim dividends of 30 per cent each. With these, the total dividend works out to 200 per cent.

The company reported a total income of Rs. 2,607.68 crores, up from Rs. 2,240.70crores in the preceding year.

The profit before tax had risen to Rs.167.75 crores from Rs. 112.50 crores. This comprised an exceptional income of Rs.73.74 crores.

A release from the company, however, did not specify the `exceptional item of income'. There was a provision of Rs.55.01crores for taxation (including the income-tax on the exceptional item of income) against Rs. 39.20 crores.

The net profit was placed at Rs. 117.38 crores against Rs. 78.46 crores. The sum set aside for depreciation is Rs. 91.91crores (Rs. 93.57 crores).

The release said the company achieved higher income despite adverse market conditions and price wars.

Significantly enough, the company had done well on the overseas front with exports totalling of Rs. 316.72 crores, up from Rs. 226.62crores.

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