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Apollo Tyres’ has reported a net profit of Rs 152 crore in the second quarter of the current fiscal, almost doubled compared with Rs 78 crore in the corresponding period last year.
Its net sales also grew by 18 per cent in the second quarter at Rs 3,375 crore against Rs 2,871 crore during July-September 2011, the company said.
Most of the July to September growth was driven by India, which grew 24 per cent on increased sale of truck-bus radials, it said. “Despite the challenging circumstances, we have succeeded in maintaining a healthy top line and bottom-line. Our investment decision, made at a difficult time, to set up the Chennai Plant is now paying off,” Onkar S Kanwar, Chairman, Apollo Tyres, said.
>ronendrasingh.s@thehindu.co.in
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