Apollo Q3 profit jumps 84% to reach Rs 181 crore

The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 3rd quarter of the financial year 2012-13. 

Apollo Tyres Ltd’s consolidated revenue for the 9 months of April to December grew 9%to reach a net sales of Rs 97.57 billion (Rs 9757 crore). In the same period, profitability increased by 86%. Profitability for the 3rd quarter of 2012-13 saw a jump of84%.

Quarter 3 Consolidated Performance Highlights 

FY 2012-13 (October - December) vs Quarter 3 FY 2011-12 

• Net sales closed at Rs 32.17 billion (Rs 3217 crore) from Rs 32.28 billion (Rs 3228 crore) 
• Operating profit stood at Rs 4.1 billion (Rs 409 crore) from Rs 3.3 billion (Rs 330 crore) 
• Net profit closed at Rs 1.8 billion (Rs 181 crore) from Rs 0.98 billion (Rs 98 crore) in the same period last year

9 months Consolidated Performance Highlights

FY 2012-13 (April – December) vs FY 2011-12

• Net sales closed at Rs 97.57 billion (Rs 9757 crore) from Rs 89.22 billion (Rs 8922 crores) 
• Operating profit stood at Rs 11.51 billion (Rs 1151 crore) from Rs 8.2 billion (Rs 821 crore) 
• Net profit closed at Rs 4.71 billion (Rs 471 crore) from Rs 2.53 billion (Rs 253 crore) in the previous year

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “The dynamics in our largest market – India, have not been easy. Europe and South Africa too are facing their own economic issues. In India, the commercial vehicle segment has been affected the most, while the other sectors have not remained unscathed. While we expect the passenger vehicle segment to recover in the next two quarters, commercial vehicle sales will take more time to normalise. Having said that, our continued focus on improving the product and customer mix across geographies, has helped us better our profitability. I believe that the worst is behind us, and we should see improvement in both automotive and tyre sales from the beginning of the new fiscal.”

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