Apollo Tyres’ third qua-rter net stood at Rs 98 cr, as against Rs 120 cr in the same quarter last year. However, the net sales increased by Rs 859 cr.
Consolidated revenue for the quarter grew 36 per cent to reach a net Rs 3,228 crore as against Rs 2,369 crore during the corresponding previous quarter. Revenue growth was led by India operations with a 46 per cent increase, followed by South Africa with 28 per cent and Europe with 26 per cent, the company said.
Onkar S Kanwar, chairman, said, “All three geographies have performed exceptionally well, amidst concerns over a slowdown throughout the last two quarters.