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MRF Q1 profit declines by 51 pct
Tyre maker MRF posted a 51 per cent decline in its net profit at Rs 61.59 crore for the quarter ended June 30,2010,over the same period last fiscal.
The company had a net profit of Rs 125.70 crore in the corresponding quarter previous fiscal,MRF said in a filing to the Bombay Stock Exchange.
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During the quarter,the company’s net sales increased by 34.2 per cent to Rs 1,924.4 crore from Rs 1,433.5 crore recorded in the same period fiscal.
The Board of Directors approved payment of an interim dividend of Rs 3 per equity share,it said.
