MRF Q3 net dips 48 pc

NEW DELHI: A drop in profitability coupled with the ten-day transport strike that crippled supplies led to a 48 per cent drop in MRF''s net profit for its third quarter ended June 30, 2003.
The tyre maker posted a net profit of Rs 15.33 crore during the quarter, down from Rs 29.47 crore a year earlier. The drop notwithstanding, the board of directors of MRF on Tuesday recommended a second interim dividend of 30 per cent for the current fiscal.
Its total income (net of excise), however, has increased from Rs 480.52 crore last fiscal to Rs 548.9 crore this year.This marks a 14 per cent growth in income.