The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 3rd quarter of the financial year 2016-17.
Apollo Tyres Ltd’s consolidated revenue for the nine months (April to December) of FY17 closed at Rs 9794 crores while the Net Sales for the 3rd Quarter (October to December) grew 17% to close at Rs 3435 crores. The company witnessed good volume growth in both Indian, as well as, European Operations in the 3rd quarter, led by the passenger vehicle segment.
Quarter 3 Consolidated Performance Highlights
Q3 FY2016-17 (October - December) vs Quarter 3 FY2015-16
Commenting on the company’s performance in the 3rd quarter, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “We have been able to deliver positive numbers in spite of various external factors in the last few months. While, uncertainty around GST in India, adversely impacted the commercial vehicle segment, the passenger vehicle segment witnessed a good growth. European Operations grew both in revenue and volume terms, and that too, faster than the industry. Having said that, the increasing rubber and other raw material prices in the last few months would be a challenge for us, and the industry, going forward.”
9 months Consolidated Performance Highlights
9M FY2016-17 (April – December) vs 9M FY 2015-16 (April – December)
Cross Currency Reference Chart for Key Financials:
|
Rs Billion |
US$ Million |
Euro Million |
|||
FY 2016-17 |
Q3 |
9M (Apr–Dec) |
Q3 |
9M (Apr–Dec) |
Q3 |
9M (Apr–Dec) |
Net Sales |
34.35 |
97.94 |
505.50 |
1452.37 |
471.37 |
1317.59 |
Operating Profit |
5.37 |
15.81 |
78.94 |
234.40 |
73.71 |
212.65 |
Net Profit |
2.96 |
8.71 |
43.50 |
129.13 |
40.62 |
117.15 |
(ends)