 "Apollo Tyres Q3 results: Net profit rises 30% to Rs 292 cr, revenue up 13%")
Apollo Tyres on Thursday said its consolidated net profit increased 30 per cent to Rs 292 crore for the December quarter, aided by robust sales in the domestic market.
The company had reported a net profit of Rs 224 crore in the year-ago period.
Revenue from operations rose 13 per cent to Rs 6,423 crore, as against Rs 5,707 crore in the October-December quarter of previous fiscal, the company said in a statement.
"The domestic demand has helped us tide over the recessionary trends elsewhere. Having said that, our European Operations have still outperformed the market in the first 9 months of this fiscal," Apollo Tyres Chairman Onkar Kanwar said.
Input costs eased to some extent in the past quarter, helping improve the company's margins, he noted.
The demand momentum in the medium term looks positive, while there may be some headwinds in the near term, Kanwar said.
On Thursday, shares of the company ended 0.5 per cent up at Rs 331.35 apiece on the BSE.
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