Apollo Tyres registers a 3.5% fall in net sales yet, 51% increase in net profits.
One of the largest Indian tyre-manufacturers Apollo tyres announced here on Tuesday that the company’s net profits for the 3rd quarter that ended in December 2015 had witnessed a jump of 51% making it INR 279 crore as compared to INR 184 crore during the same time a year ago.
Apollo tyres did mentioned that it also registered a marginal fall in its net sales amounting to INR 2929 crores a fall of 3.5% as compared to INR 3037 crore during the same period last year.
However, its net sales fell marginally to Rs 2929 crores, a fall of 3.5 percent from Rs 3037 crores in Q3 of FY2015. The company reported Q3 ebitda of Rs 512 crores, in comparison to Rs 502 crores reported in September to December quarter of FY15