MRF Q3 net surges 94% to Rs 447 crore

Tyre manufacturer MRF on Monday reported a 94.07 percent surge in standalone net profit at Rs 446.81 crore for the third quarter ended June 30.

New Delhi: Tyre manufacturer MRF on Monday reported a 94.07 percent surge in standalone net profit at Rs 446.81 crore for the third quarter ended June 30.

The Chennai-based firm had posted a net profit of Rs 230.22 crore for the same period during the previous fiscal.

Total income from operations of the company on standalone basis was up 6.05 percent to Rs 3,538.95 crore compared with Rs 3,336.98 crore in the same period of previous fiscal, MRF said in a BSE filing.

MRF follows September-October as its financial year.

Meanwhile, in a separate filing the company informed BSE that its Board has decided to change the financial year of the company from "October-September" to "April-March" and for that it is extending the current fiscal for six months.

"Accordingly, the current financial year of the Company shall be extended up to March 31, 2016 covering a period of 18 months commencing from October 01, 2014 to March 31, 2016, subject to further approval from the Registrar of Companies, Chennai," MRF said.

It also that its Board has declared an interim dividend of Rs 3 per equity share for the period ending March 31, 2016.

Shares of MRF ended the day at Rs 39,017.65, up 1.27 percent on BSE today.

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