The Board of Directors of Apollo Tyres Ltd have approved the company’s unaudited results for the 1st quarter of the financial year 2014-15. Earlier in the day, at the 41st Annual General Meeting, shareholders approved the annual dividend payout of 75% per share (0.75 per equity share), for the year ended March 31, 2014.rsz_apollo-tyres-logo-wallpaper
For the quarter ended June 30, 2014, Apollo Tyres Ltd, on a consolidated level, reported a profit of Rs 228 crores on the net sales of Rs 3235 crores. Showing signs of growth, Apollo Tyres’ Indian Operations registered 6%increase in revenue in the first quarter, while European Operations, continuing its good performance, registeredan increase of 18% in revenues in Q1 FY15, as compared to the same period last year.
Sale of part of Africanbusiness in the last fiscal, led to the company reporting flat revenue growth on a consolidated level in the firstquarter.
Commenting on the results, Onkar S Kanwar, Chairman Apollo Tyres Ltd said, “Increased vehicle sales in the past quarter across geographies, and especially in India, along with a better product and market mix, helped us report good numbers in the past quarter.”