MUMBAI, Feb. 5 -- Apollo Tyres' net profit for the third quarter ended December 31,2018 fell by 19% to Rs 198 crore due to the increase in raw materials.
The company had reported net profit of Rs245 crore for the third quarter of last fiscal.
Sales for the quarter increased by 16% to Rs4655 crore against Rs4016 crore in in the corresponding period of the last financial year.
Commenting on the company's performance in the 3rd quarter, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, "While our volumes have increased across segments and geographies, the margins were impacted due to the lag effect of the increase in raw material prices, especially crude-based ones, in the previous quarters. Comparatively, this quarter looks better, as the ra...