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August 7, 2014

INDIA: Apollo Tyres’ Q1 net profit rises 37%

For the fiscal first quarter ended 30 June 2014, Apollo Tyres' net sales increased 1.4% to INR32.35bn (US$527m). Operating profit was up 13.4% to INR4.58bn, while net profit soared 37.3% to INR2.28bn.

For the fiscal first quarter ended 30 June 2014, Apollo Tyres ‘ net sales increased 1.4% to INR32.35bn (US$527m). Operating profit was up 13.4% to INR4.58bn, while net profit soared 37.3% to INR2.28bn.

According to Tyrepress.com, reevenue at the company’s South African business dropped 59% to INR1.598bn, Indian sales rose 7.2% to INR23.282bn and European operations saw 29.1% growth to INR9.503bn.

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