MRF Ltd announces 90 pc dividend

Chennai, Jan 28: Leading tyre manufacturer MRF Ltd has announced a net profit of Rs 50.90 crore for the year ended in September 1997. This is a 19 per cent growth over the previous year’s net profit of Rs 42.86 crore.

The board has recommended a final dividend of 30 per cent. After taking into account two interim dividends of 30 per cent each, the total dividend for 1996-97 stands at 90 per cent. The growth in profits has come on a marginal 4.6 per cent increase in its turnover. The company recorded a sales of Rs 2,122.20 crore for 96-97.