Apollo Tires Q1 net up 10.63% at Rs 315 crore



NEW DELHI: Apollo TyresBSE 0.39 % today reported a 10.63 for every penny increment in combined net benefit at Rs 314.69 crore in the primary quarter finished June 30, 2016.

Rupee depreciates 3 paise at 66.86 against Dollar

The organization, whose block today affirmed raising of to Rs 750 crore through private arrangement of non-convertible debentures, had posted a net benefit of Rs 284.44 in the same quarter last financial.

Net deals amid the period under audit remained at Rs 3,284.72 crore as against Rs 2,832.23 crore in the year-back period, up 15.97 for every penny, the organization said in a BSE documenting.

Apollo Tires Chairman Onkar S Kanwar said: "In spite of the difficulties postured by the Chinese imports, we have seen expanded interest for our items from both OEs (unique gear makers) and the substitution market crosswise over item classifications in India."

The organization's recently propelled bike tires have likewise been extremely very much acknowledged by the clients, he included.

"With the expanded truck-busradial limit kicking-in the following 2-3 months, we are all around ready to a higher volume development in the financial," Kanwar said.

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