Apollo Tyres profit increases 18%

qiangzi

Friday, May 11, 2012
4 c. s5 T$ X; I+ S! y. E% a$ q
Mumbai - Apollo Tyres reported consolidated annual revenues, across operations in Asia, Africa and Europe, grew 37% to reach Rs 121.5 billion ($2.5 billion or Rs 12,153 crores) for fiscal year 2011-12. Indian Operations’ revenue grew 49% this year as compared to previous year; Europe saw a growth of 27%, while African Operations’ also witnessed a 10% growth, despite challenging local circumstances. Total operating profit grew 18% to reach Rs 12 billion from Rs 10.2 billion and net profit stood at Rs 4.1 billion from Rs 4.4 billion in the previous year.