Tire maker MRF Ltd said standalone net profit rose 16% to ₹169 crore for the third quarter ended December on increased sales volumes.
Revenue from operations increased from ₹4,830 crore to ₹5,535 crore. Revenue from operations for the quarter included industrial incentives of ₹80 crore received from the Telangana government. The cost of material consumed increased 19% to Rs 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 Maiman 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.