MRF Jun qtr net dips 48% at Rs 32 cr

Tyre maker MRF today reported 48% decline in its net profit for the quarter ended June 30 at Rs 32 crore.

The net profit of the company for the corresponding quarter last year stood at Rs 62 crore, MRF said in a filing to the Bombay Stock Exchange (BSE).

The total income during the April-June quarter, however, increased by 34% to Rs 2,573 crore from Rs 1,925.40 crore in the year-ago period, it added.

The company's board has declared an interim dividend of Rs 3 per equity share for the year ending September 30, 2011, the filing said.

Reacting to the numbers, the shares of the company were trading 3.14% down at Rs 7,120 apiece during late afternoon on the BSE.