The company’s South Africa operations posted EBIT of Rs4.7 crore in the October-December quarter as against loss of Rs29.7 crore in a year ago period
Tyre major Apollo Tyres’ consolidated net profit grew by 84.7% year-on-year (Y-o-Y) to Rs181 crore in the third quarter of financial year 2012-13, aided by other income of Rs26.7 crore.
However, consolidated revenue declined marginally to Rs3,217.3 crore from Rs3,228.2 crore during the same period.
Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) went up 18% Y-o-Y to Rs382.1 crore in the December quarter.
The company saw turnaround in its South Africa operations that posted EBIT of Rs4.7 crore in the October-December quarter as against loss of Rs29.7 crore in a year ago period.
Europe operations EBIT increased nearly 9% to Rs140.6 crore from Rs129.2 crore during the same period.
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