Apollo Net Sales Up 24% in Q1

The unaudited Apollo Tyres results for the first quarter of the 2009-10 financial year, announced on July 23, show an overall year-on-year 24 per cent growth in revenues to Rs 16.3 billion (£204.8 million). Operations within India alone generated sales of Rs 11.8 billion (£148.3 million). Earlier in the day, shareholders approved an annual dividend payout of 45 per cent per share for the year ended March 31, 2009.

“Your company’s continuing attention to increasing efficiencies across the board and re-aligning costs to protect margins have paid high dividends,” commented Apollo Tyres chairman Onkar S Kanwar. “This has assisted us in improving margins and enabled your company to remain competitive.”