Apollo Tyres Q3 net profit down 17 pc to Rs 245 cr

Apollo Tyres today reported 17 per cent decline in consolidated net profit at Rs 245.29 crore for the quarter ended December 31, 2017.
The company had posted a net profit of Rs 295.69 crore during the October-December period of previous fiscal, Apollo Tyres said in a regulatory filing.
Total revenue during the quarter under review stood at Rs 4,096.44 crore. It was Rs 3,740.77 crore in the corresponding period of previous fiscal.
The company said revenue for the quarter and nine-month period ended December 31, is not comparable on account of GST implementation.
Expenses during the quarter were Rs 3,746.11 crore as against Rs 3,345.90 crore in the year-ago period.

Apollo Tyres' stock was trading 1.01 per cent down at Rs 249.65 on BSE.