Apollo Tyres’ Q3 net skids 19% to ₹198 crore

Our Bureau New Delhi | Updated on February 05, 2019

Owing to a rise in commodity prices, Apollo Tyres saw a 19 per cent YoY decline in its consolidated net profit at ₹198 crore for the third quarter ended December 2018, against ₹245 crore in the previous year period.

However, consolidated revenue from operations was up 16 per cent at ₹4,655 crore (₹4,016 crore).

“While our volumes have increased across segments and geographies, the margins were impacted due to the lag effect of the increase in raw material prices, especially crude-based ones, in the previous quarters,” Onkar S Kanwar, Chairman, Apollo Tyres, said on Tuesday.

Total expenses during the third quarter were higher at around ₹4,440 crore (₹3,746 crore) with cost of materials consumed rising to ₹2,252 crore (₹1,818 crore).

Published on February 05, 2019

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like