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Apollo Tyres Second Quarter Profit up 18%Exports out of India grows more than 30% | |||||||||||||||||||||||||||||||||||
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 2014 - 15.
Half Yearly Performance Highlights:
Speaking on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd, said “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 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.” Cross Currency Reference Chart for Key Financials:
Click Here for detailed Results table
About Apollo Tyres Ltd:
Apollo Tyres Ltd is a high-performance tyre manufacturer headquartered in India. It is built around the core principles of creating stakeholder value through reliability in its products and dependability in its relationships. The company has four manufacturing units in India, three in Southern Africa and one in the Netherlands. Apollo's subsidiary companies are Apollo Tyres Africa Pty Ltd in South Africa and Apollo Vredestein BV in the Netherlands. India, South Africa and Europe are the company’s three domestic markets from where products are exported to over 100 countries. In each of the domestic markets the company operates through a vast network of branded, exclusive and multi-product outlets.
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