Apollo posts healthy profit on higher sales for 12 months

ERJ staff report (DS)

Gurgaon, India — Apollo Tyres reported sales up sharply for the 12 months ended 31 March 2009, while profits fell by around half. The company said consolidated sales grew by six percent, to Rs 49 840 million (euro 750 million), while pre-tax profit declined to Rs 2134 million (euro 32.1 million) from Rs 4053 million.

The Indian division reported sales up by 10 percent, to Rs 40704 million (euro 612 million) for the year. Profits in the Indian segment also fell by around…

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