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Apollo Tyres Half Yearly Profit up 17% | |||||||||||||||||||||||||||||||||||
India
The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited financial results for the 2nd quarter and the first 6 months of the financial year 2015 - 16.
Half Yearly Performance Highlights
Speaking on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd, said “Despite the increasing import of truck-bus radials (TBR), which continues unabated into India, we have been able to hold on to our revenues. In the July-September quarter, the TBR imports increased almost 100%, as compared to the same period last year, of which, the economy/Chinese brands contributed nearly 90%. The problem of low cost imports is putting at risk the entire ‘Make in India’ clarion call by the Indian government.”
About Apollo Tyres Ltd
Apollo Tyres Ltd is an international tyre manufacturer and the leading tyre brand in India. The company has a total of 5 manufacturing units in India and The Netherlands. It is setting up a new manufacturing facility in Hungary, with a planned investment of €475 million. The company markets its products under its two global brands – Apollo and product outlets.
To view the Report on Q2FY16 Financials, click here |
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Media Contact Details
Rohit Sharan
Apollo Tyres +91 124 2721000 |
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