Apollo in black, NR prices pose concern

Gurgaon, India – Apollo Tyres notched up higher sales and profits in the three months ending 31 Dec 2016, but it’s concerned about the impact of rising natural rubber prices in the months to come, the Indian tire company reported 1 Feb.

In its fiscal third quarter, the tire maker registered a 17% rise in net sales to Rs34.35 billion (€471.4 million), with operating profit showing a 3% rise to Rs5.19 billion. Net profit was up 6% at Rs2.96 billion.

The positive figures, said Apollo, were achieved despite…

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