Apollo Tyres, on Monday, posted 18 per cent growth in consolidated net profit at Rs.257.94 crore (consolidated) for the second quarter ended September 30, 2014, against Rs.219.50 crore in the same period in the previous year.
Net sales stood at Rs.3,300.64 crore against Rs.3,433.45 crore. For the first half year (April-September), the company posted a profit of Rs.486 crore on net sales of Rs.6,536 crore against Rs.385.42 crore and Rs.6,623 crore respectively in the year-ago period. A press release issued by the company quoted Onkar S Kanwar, Chairman, Apollo Tyres Limited, as saying, “Our 18-24 months of planning and smart execution has resulted in incremental exports out of India, and with additional demand for our products in the Middle East and the ASEAN region; we expect this to grow further.
Taking into account the export growth, and the expected revival of the commercial vehicle segment in India, our expansion projects in Chennai and Kochi, both in the southern part of India, is moving ahead full steam.”
