Apollo Tyres Q1 net rises 37% to Rs 227.94 crore

Company had reported a net profit of Rs 165.94 crore in the corresponding quarter of the previous financial year

Apollo Tyres today reported 37.36 per cent jump in consolidated net profit at Rs 227.94 crore for the quarter ended June 30 on the back of higher other income.

It had reported a net profit of Rs 165.94 crore in the corresponding quarter of the previous financial year, Apollo Tyres said in a filing to the BSE.

Consolidated total income in the quarter under review went up marginally by 1.80 per cent to Rs 3,247.55 crore from Rs 3,189.93 crore a year earlier, it added.

In the first quarter of 2014-15, other income stood at Rs 28.97 crore as compared to Rs 11.01 crore in the corresponding quarter last year.

Overall expenses in the quarter stood at Rs 2,919.2 crore as against Rs 2,895.01 crore in the corresponding period a year ago.

Shares of Apollo Tyres were trading 5.18 per cent down at Rs 175.60 apiece during afternoon trade on the BSE.