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Apollo Tyres : engaged in the manufacturing and selling of automobiles tyres, tubes and flaps, reported a substantial drop in its standalone net profit for the third quarter ended December 2008. During the quarter, the standalone profit of the company declined 91.14% to Rs 55.08 million or Rs. 5.51 crore from Rs 621.70 million in the same quarter, last year.
Net sales declined marginally 7.28% to Rs 9,033 million or Rs 903.26 crore versus Rs 974.13 crore, while total income for the quarter fell 7.21% to Rs 9,041.88 million, when compared with the prior year period.
The company reported earnings of Rs 0.11 a share for the quarter ended December 2008.
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