The Hindu Business Line : Apollo Tyres Q4 net at Rs 20.28 cr

APOLLO Tyres Ltd (ATL) on Tuesday reported a 3.86 per cent decline in net profit for the year ended March 31, at Rs 67.63 crore as compared to a net profit of Rs 70.42 crore recorded in the previous year.

Gross sales of the company, however, surged by about 14.8 per cent to touch Rs 2,657 crore for the year ended March 31, as against a gross turnover of Rs 2,314 crore recorded in the previous year. Other income stood at Rs 19.84 crore (Rs 5.56 crore). Raw material consumption cost stood at Rs 1,425.37 crore (Rs 1,193.16 crore)

The board which met at Gurgaon in Haryana on Tuesday, have recommended a dividend of 45 per cent (Rs 4.50 on a share with a face value of Rs 10).

"Our sales growth has allowed us to maintain a robust bottomline even in a very tough year. The demand outlook for the industry continues to remain healthy and we believe we are best positioned to convert these opportunities into reality", Mr Onkar S. Kanwar, Chairman and Managing Director, ATL, said in a statement here today.

For the fourth quarter ended March 31, ATL has reported a net profit of Rs 20.28 crore (Rs 18.78 crore) on gross sales of Rs 752.73 crore (Rs 621.87 crore).

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