IANS | 15 May, 2024
Apollo Tyres on Tuesday reported a 13.7 per cent decline in net
profit at Rs 354 crore for the Jan-March quarter of 2023-24 compared
with the corresponding figure of Rs 410.30 crore for the same period of
the previous year.
The Apollo Tyres board has “recommended a dividend
of Rs 6 per equity share (i.e. 600 per cent) on the face value of Rs 1
each for FY24, subject to the approval of the shareholders at the
ensuing AGM of the company, which shall be paid/ dispatched on or before
30 days from the conclusion of the AGM,” the company said in a stock
exchange filing.
The tyre major posted revenue from
operations at Rs 6258.20 crore, marginally up from Rs 6247.33 crore
during the same period last year. The company’s EBITDA (earnings before
interest, taxes, depreciation and amortization) stood at Rs 1028 crore,
up 3 per cent year-on-year.
