Apollo Tyres’ revenue up 55%

LSRUNQI

Apollo Tyres’ revenue up 55%
/ O& J3 r% y1 X# B) j/ DFriday, August 12, 2011

1 b, k: j: ~, mKochi, India - Apollo Tyres’ consolidated revenues for the first quarter grew by 55%, however factors like continuing all-time high natural rubber prices, along with sluggish growth in some major markets, had a dampening impact on the company’s profitability for the quarter. Net sales totalled Rs 28.2 billion from Rs 18.2 billion last year. Operating profit grew by 20% at Rs 2.4 billion, from Rs 2 billion in 2010 and net profit increased 3.9% at Rs 771 million, from Rs 742 million. An annual dividend payout of 50% per share (0.50 per equity share), for the year ended March 31, was approved.