Recession in Tyres

Recession in Tyres Jairaj Kapadia THE tyre company MRF has suffered a setback in profit after depreciation and in profit after tax during the year to September 30, 1992, while against an improve- ment in net sales of Rs 87 crore at Rs 662 crore, its gross profit has shown an increase of only Rs 3 crore at Rs 59 crore. The company declared a higher dividend of 75 per cent in three parts of two interim dividends of 30 per cent and a third of 15 per cent final dividend as against.60 per cent for the previous year. Since the year's dividend also covered an increase taking place in the share capital, the total dividend pay-out was more at Rs 306 lakh against Rs289 lakh for the previous year. But against that there was a write-back of earlier surplus provisions of Rs 505 lakh.