The Apollo Tire India recently announced its performance report for the fiscal year 2013 to 2014 (April 2013 to March 2014). The company's operating income and net profit both maintained growth in the previous fiscal year, and its operating profit rate increased to 14.8%.
In the fourth quarter of last fiscal year, Apollo tire operating income increased by 6% year-on-year to US$540 million; operating profit reached US$80.8 million, a year-on-year increase of 20%; net profit doubled year-on-year to US$47 million. .
Judging from the overall performance of the previous fiscal year, Apollo tires’ cumulative operating income reached US$2.18 billion, up 4% year-on-year; operating profit increased 19% year-on-year to US$330 million, and operating margin improved from 12.1% in the previous fiscal year. 14.8%; Net profit increased by as much as 64% to $170 million.
In all regions, Apollo tires accounted for 62.1% of revenue in India in the fiscal year, and 27.9% in Europe, and 9% in South Africa.
After the publication of the financial report, Apollo Tire also announced an investment plan to invest 500 million euros in the construction of a new tire factory in Eastern Europe. After its completion, it will produce 16,000 passenger tires and 3,000 tires per day.
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