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Article: INDIA'S APOLLO TYRES FY NET UP 44.8%, TURNOVER RISES 17.5%.
- Article from:
- AsiaPulse News
- Article date:
- June 27, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, June 27 Asia Pulse - Apollo Tyres (BSE:APLO) reported a 44.8 per cent rise in net profit for the year ended March 31, 2002.
The company posted a net profit of Rs 368.1 million (US$7.5 million) during 2001-02 against Rs 254.2 million a year ago, a company statement said.
Apollo Tyres' turnover went up by 17.5 per cent to 17.1 billion during the year under review.
The company board has recommended payment of a higher dividend of 45 per cent for 2001, 02 against a dividend of 40 per cent in the previous year.
"The improved performance is due to enhanced operating efficiencies, better working capital management, aggressive ...