Apollo Tyres Q3 revenue increases 8%

Apollo Tyres Q3 revenue increases 8%

Apollo Tyres Q3 revenue increases 8% to reach Rs 3475 crores. Net sales for the 9-months of April to December crosses Rs 10000 crores



February 12, 2014

The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 3rd quarter of the financial year 2013-14.

Apollo Tyres Ltd’s consolidated revenue for the 3rd quarter (October to December) grew 8% to reach Rs 34.75 billion (Rs 3475 crores). Net Sales for the nine months of 2013-14 grew 3% to reach Rs 10098 crores.

Quarter 3 Consolidated Performance Highlights FY2013-14 (October - December) vs Quarter 3 FY2012-13

  • Net sales closed at Rs 34.75 billion (Rs 3475 crore), up 8% from Rs 32.17 billion (Rs 3217 crore)
  • Operating profit stood at Rs 6.19 billion (Rs 618.5 crore) from Rs 4.1 billion (Rs 409 crore); however, this includes exceptional items of Rs 112 crores, from non-operational income.
  • Net profit, including the non-operational income mentioned above, closed at Rs 3.38 billion (Rs 338 crore), from Rs 1.81 billion (Rs 181 crore) in the same period last quarter

9 months Consolidated Performance Highlights FY2013-14 (April – December) vs FY 2012-13 (April – December)

  • Net sales closed at Rs 101 billion (Rs 10098 crore) from Rs 97.6 billion (Rs 9757 crores)
  • Operating profit stood at Rs 14.94 billion (Rs 1493.6 crore) from Rs 11.51 billion (Rs 1151 crore); this also includes the exceptional addition of Rs 112 crore mentioned above
  • Net profit, including the non-operational income mentioned above, closed at Rs 7.23 billion (Rs 723 crore) from Rs 4.71 billion (Rs 470.8 crore) in the previous year.

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “Improved and expanded product range in key markets for the company has helped us in reporting incremental revenues for the 3rd quarter. I wouldlike to compliment my team for achieving excellent numbers amidst such challenging circumstances across geographies. This gives me confidence to invest in future growth for the company, decisions for which had been kept on hold for the past few months.”

Cross Currency Reference Chart for Key Financials:

 

Rs Billion

US$ Million

Euro Million

FY 2013-14

Q3

9 month (Apr–Dec)

Q3

9 month (Apr–Dec)

Q3

9 month (Apr–Dec)

Net Sales

34.75

100.99

561.22

1683.09

411.62

1264.05

Operating Profit

6.19

14.94

100.71

248.93

74.33

186.95

Net Profit

3.38

7.23

55.29

120.57

40.95

90.55