Materials prices dent earnings-growth at Apollo

Gurgaon, India – Raw-materials costs put the brakes on earnings-growth at Apollo Tyres Ltd in the third quarter; but management remains upbeat about full-year prospects.

For the final three months of 2018, Apollo posted a 3% year-on-year rise in earnings (EBITDA) to €68.2 million, on consolidated sales 16% higher at €566.6 million.

By contrast, for the nine months to 31 Dec, earnings grew 33% to €198.1 million, the Indian tire maker also reported 5 Feb.

Sales for the first three quarters of Apollo’s 2019 fiscal year (FY19) came…

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