Indian operations drive up sales at Apollo

Gurgaon, India –  Apollo Tyres Ltd has reported higher sales but pressure on earnings in unaudited financial results for the second quarter of its 2017-18 financial year.

On a consolidated level for the three months to 30 Sept, Apollo reported operating profit down 20% year-on-year to €51.2 million, on net sales of €452.6 million.

For the first half of the fiscal year, the India-based tire maker posted an operating profit of €90.9 million on net sales of €910.9 million.

With an 18% jump in net sales, the company’s Indian operations…

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