Apollo earns $12 million in third quarter
Apollo Tyres Ltd. recorded net income of 541 million rupees on net sales of 14.3 billion rupees for its third quarter ended Dec. 31, 2010. That compares to income of 1 billion rupees on sales of 13.2 billion rupees for the same period a year earlier.
Based on the exchange rate on Dec. 31, 2010, Apollo posted net income of $12 million on sales of $137.3 million for the third quarter of its 2011 fiscal year. The company's income-to-sales ratio is 8.7%.
For the first nine months, Apollo recorded net income of 1.3 billion rupees on net sales of 37.3 billion rupees. That compares to income of nearly 3 billion rupees on sales of 37.2 billion rupees for 3Q of fiscal 2010.
The results are unaudited.