Apollo Tyres Q3 net profit down 17% to Rs245 crore
New Delhi: Apollo Tyres on Tuesday reported 17% decline in consolidated net profit at Rs245.29 crore for the quarter ended 31 December 2017.
The company had posted a net profit of Rs295.69 crore during the October-December period of previous fiscal, Apollo Tyres said in a regulatory filing. Total revenue during the quarter under review stood at Rs4,096.44 crore. It was Rs3,740.77 crore in the corresponding period of previous fiscal.
The company said revenue for the quarter and nine-month period ended 31 December, is not comparable on account of goods and services tax (GST) implementation. Expenses during the quarter were Rs3,746.11 crore as against Rs3,345.90 crore in the year-ago period.
Apollo Tyres’ stock was trading 1.01% down at Rs249.65 on BSE.