Basic HTML Version
88
MOTORINDIA
l
March 2012
Apollo Tyres
registers 36%
revenue growth
Apollo Tyres Ltd.’s consolidated revenue for the third
quarter of 2011-12 grew 36 per cent to reach a net sale of
Rs. 32.28 billion (Rs. 3,228 crores). The revenue growth
was led by Indian operations with 46 per cent increase
in revenue over the same period last fiscal, followed by
South Africa with 28 per cent and Europe with 26 per
cent growth.
During October-December net sales rose to Rs. 32.28
billion (Rs. 3,228 crores) from Rs. 23.69 billion (Rs.
2,369 crores) in the corresponding period of the previ-
ous year. Operating profit stood at Rs. 3.28 billion (Rs.
328 crores) against Rs. 2.78 billion (Rs. 278 crores). Net
profit closed at Rs. 0.98 billion (Rs. 98 crores) against Rs.
1.2 billion (Rs. 120 crores).
For the nine months (April-December) of 2010-11, net
sales rose to Rs. 89.22 billion (Rs. 8,922 crores) from Rs.
61.38 billion (Rs. 6,138 crores), operating profit to Rs.
8.12 billion (Rs. 812 crores) from nearly Rs. 6.66 billion
(Rs. 666 crores), and net profit to Rs. 2.53 billion (Rs.
253 crores) from Rs. 2.48 billion (Rs. 248 crores) in the
previous year.
Commenting on the results, Mr. Onkar S. Kanwar,
Chairman, Apollo Tyres Ltd., said: “All 3 geographies
have performed exceptionally well amidst concerns over
a slowdown throughout the last 2 quarters. The raw mate-
rial prices have stabilised to some extent, but they con-
tinue to remain on the higher side and put our margins
under pressure. In India, our truck-bus radial journey,
which started last year, is in full swing; and with 4000
truck-bus radial tyres coming out of our Chennai plant
everyday, we have already gained leadership position in
this segment as well. I am confident that the next quarter
would see us further consolidate our growth and profit-
ability journey.”
w
tyres
Mr. Onkar S. Kanwar, Chairman, Apollo Tyres Ltd.