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MRF Q3 net profit surges 94%

India’s one of the largest tyre companies MRF’s standalone net profit surged 94% to Rs446.81 crore in the third quarter ended June 30. The company’s standalone net profit in the same quarter of last fiscal stood at Rs230.22 crore.

MRF logo

MRF follows up as it September-October fiscal year.

The Chennai-based company’s total income from operation on standalone basis up by 6% to Rs3,538.95 crore against Rs3,336.98 crore in the same period of last year.

In a filing the BSE, MRF said it 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.

The company’s Board has declared an interim dividend of Rs 3 per equity share for the period ending March 31, 2016.

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