Tyre manufacturer MRF Ltd reported a 39% jump in its net profit at Rs353.98 crore for the year ended September 2010, over the corresponding period a year ago.
For the year ended September 2009, the company had reported a net profit of Rs253.03 crore, the company said in a statement.
The total revenue of the company for the year ended September 2010 rose by 31.50% to Rs8,122.42 crore from Rs6,176.34 crore a year ago, it said.
The board of directors recommended a final dividend of Rs19 per share for the year 2010. In addition, the directors also recommended a special dividend of Rs25 per share in view of the 50th year of the company, it said. With the two interim dividends of Rs3 each paid early this year, the aggregate dividend for the year is Rs50 (500%), it said.
Backed by the strong growth of automobile industry, the company said it has recorded the highest growth in a single year. The unprecedented increase in the price of natural rubber and other raw materials continues to be a matter of concern, the statement added.
On Friday, MRF declined 1.88% to Rs7,819.95 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.94% down at 19,136. 61 points.
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