MRF’s Net Profit Takes a Hit

By Shaon, Gaea News Network
Wednesday, July 28, 2010

MUMBAI,INDIA (GaeaTimes.com) — The results of MRF’s quarterly review have come out. The company has reported Rs.1924.44 crore in profit this quarter. During the same last year the profit for the company was Rs. 1433.55 crore. The company has had a dip in its net profit.

The MRF board as approved an interim dividend of Rs 3 per share of face value Rs 10. The public holding and the paid-up capital reportedly is
73.31% and Rs.4.24 crore. respectively. The net profit after tax is reportedly stands at Rs. 61.59 crore. The reason behind this dip is due to
the rise in material cost, higher depreciation rate among other reasons.

This report means that the long term investors in the MRF stock will not be overjoyed. But the company is expected to maintain a steady growth.

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