Appollo Tyres net up 14 per cent

DECCAN CHRONICLE
Published Aug 12, 2015, 11:48 am IST
Updated Mar 28, 2019, 5:46 am IST
The turnover, however, slipped to Rs 2,832 crore as against Rs 3,223 crore in the same period
Representational image
 Representational image

KOCHI: Apollo Tyres Ltd has posted a net profit of Rs 291 crore in the first quarter of 2015-16 financial year, up 27 per cent compared with Rs 228 crore in the same period a year ago. The turnover, however, slipped to Rs 2,832 crore as against Rs 3,223 crore in the same period, a release said on Tuesday.

The turnover was hit by the flat growth in revenue in Europe while increasing imports of commercial vehicle tyres into the country have hit domestic revenue, a statement issued by the company said.

 

“In a slow-growth market across geographies, further marred by unregulated imports of tyres in India, we have invested to capitalise on future opportunities,” said Onkar S. Kanwar, chairman of the company.

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Location: Kerala




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