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Apollo Tyres slips 4% as Co reports net loss of Rs 135 cr for June quarter

The tyre maker had reported a net profit of Rs 142 crore in the April-June last fiscal.

Apollo tyres
Net sales during the quarter under review declined to Rs 2,828 crore, from Rs 4,272 crore in the year-ago period.

Shares of Apollo Tyres fell as much as 4.14 per cent to Rs 111 on the BSE on Thursday after the company reported a consolidated net loss of Rs 135 crore for the first quarter ended June 30, hit by lower sales due to coronavirus pandemic. The tyre maker had reported a net profit of Rs 142 crore in the April-June last fiscal. Net sales during the quarter under review declined to Rs 2,828 crore, from Rs 4,272 crore in the year-ago period, Apollo Tyres said in a statement. READ MORE "While the first half of the first quarter was almost a complete washout, our performance ...