Tyre manufacturer MRF Ltd. said standalone net profit for the third quarter ended December rose 16% to ₹169 crore, due to increase in sales volume.
Revenue from operations rose ₹5,535 crore from ₹4,830 crore. The revenue from operations for the quarter included industrial incentive of ₹80 crore received from Telangana government. Cost of materials consumed increased by 19% to ₹3,751 crore, the company said in a regulatory filing.
The board declared an interim dividend of ₹3 per share to be paid by March 6.
On Thursday, the board approved the re-appointment of Arun Mammen as managing director of the company with the designation vice chairman and managing director for a period of 5 years with effect from April 1.