The company had posted a net profit of Rs 423.46 crore during the corresponding period of last fiscal, MRF said in a BSE filing.
Revenue from operations during the period under review stood at Rs 3,712.84 crore as against Rs 3,772.04 crore in the year-ago quarter, down 1.56 per cent.
The company said it has given additional responsibility to its Managing Director Arun Mammen by appointing him as the Vice-Chairman of the company.
On the outlook, the company said the short and medium term impact of the GST law on the supply chain still remains to be seen.
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"The implementation of BS-IV norms may throw up challenges for the automobile industry and the nature and extent is not fully clear as yet," it added.
The company has also recommended a final dividend of Rs 54 per share for the fiscal ended March 31, 2017.
Shares of the company ended 2.51 per cent down at Rs 66,985.25 on BSE.
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