Apollo’s European turnover significantly up
As reported yesterday, Apollo Tyres’ global turnover only rose 1.7 per cent to Rs 34.3 billion in the prior quarter (£338.2 million). Yet the company’s turnover in Europe between 1 June and 30 September – the second quarter of the Apollo’s current financial year – grew substantially. Quarter turnover for Europe increased 46.1 per cent year-on-year to Rs 10.6 billion (£104.4 million); Apollo Vredestein’s quarter-on-quarter growth was 33 per cent. The company’s European income came to Rs 1 billion (£9.8 million), a year-on-year increase of 9.5 per cent.
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