Apollo Tyres Q4 net dips 27% to Rs 190 cr

Tyremaker Apollo Tyres reported a 27% dip in its consolidated net profit to Rs 190 crore for the quarter ending March 31, 2011 as against Rs 260 crore posted in the year-ago period.

Its consolidated net sales were, however, up 27.3% at Rs 2,729 crore versus Rs 2,143 crore, yoy.

Total income has increased 14.8% to Rs 2,746.7 crore as against Rs 2,156.7 crore yoy.

The group has posted a net profit of Rs 440.1 crore for the year ended March 31, 2011 as compared to Rs 653.3 crore for the corresponding period a year ago, which amounts to a 32.6% dip. Total Income has increased 9.2% from Rs 8,142.1 crore for the year ended March 31, 2010 to Rs 8,894 crore for the year ended March 31, 2011.

The company's board of directors has recommended a dividend of Re 0.50 per share on equity shares of Re 1 each.