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Apollo Tyres - Q1FY14 Result First Cut - Microsec
Posted On : 2013-08-08 11:26:53( TIMEZONE : IST )
Apollo tyres Ltd announced its Q1FY14 results on 7th August 2013. The company's Consolidated Net sales increased by 5.01% and 0.80% on QoQ and YoY basis respectively. EBITDA increased by 11.91% on YoY basis. EBITDA Margin of the company increased from 11.11% to 12.34% on YoY basis. Consolidated PAT increased by 17.04% and 20.24% on QoQ and YoY basis respectively.
European operations
Apollo Tyres European operations, continuing its strong performance, registered an increase of 6% in revenues during the quarter compared to the same period last year.
Net sales for the company's South African operations also grew 13% amid concerns of growing imports of tyres from China.
Cooper Tire deal
On the acquisition of US-based Cooper Tire & Rubber Company. Apollo remain committed to closing this compelling transaction. Both companies are working towards securing all necessary approvals to close the deal, which is expected to happen by the third quarter of this fiscal.
