The board of Goodyear India Ltd. on Monday approved an interim dividend of Rs 80 per equity share on the face value of Rs 10 per share, for FY21 and the date for it has been fixed on 15 December, 2020.
“The Board of Directors of the Company at its meeting held today i.e., Monday, December 07, 2020, inter-alia considered and declared interim dividend of Rs. 80 per equity share of face value of Rs. 10/- each, for the Financial Year 2020-21,” said Goodyear India in a communication to BSE.
After the announcement, shares of Goodyear India surged 16.5 per cent to Rs 1021. The company’s shares hit a 52-week high of Rs 1,186.80 in February this year. The company had reported a net profit of Rs 48.56 crore for the quarter ended on September, 2020 against a net profit of Rs 37.79 crore in the same quarter last year. During the September quarter, revenue from operations rose to Rs 481 crore form Rs 454 crore in the year-ago period.
Recently, the company has also forayed into the automotive lubricants segment in India. It has collaborated with Assurance International Ltd., Satya Group’s part to line up new engine oils which will be manufactured and distributed in India to complement the tyre major’s product portfolio in the region.