Apollo-India-Chennai-generic

Apollo Q1 earnings sink, sales off slightly

Gurgaon, India –  Apollo Tyres Ltd. suffered double-digit declines in operating and net income for the quarter ended June 30 on a slight dip in sales.

Apollo’s operating income for the fiscal 2018 first quarter fell 50.3% to $43.8 million on a 1-percent dip in sales to $505.9 million. Net income slid 72% to $13.7 million.

Chairman Onkar Kanwar said in a statement that the results reflect the impact of rising raw materials prices on Apollo’s operations, adding that materials’ prices have increased more than 30% in…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with