Apollo Tyres today reported 18.38 per cent decline in its consolidated net profit for the quarter ended March 31,2012,at Rs 156.96 crore. The company had posted a net profit of Rs 192.30 crore in the corresponding period last financial year,Apollo Tyres said in a statement. The consolidated total income from operations during the fourth quarter,however,increased by 18.39 per cent to Rs 3,231.40 crore from Rs 2,729.53 crore in the year-ago period,it added. The board of directors of the company has recommended a final dividend of Re 0.50 per equity share of a face value of Re 1 each. For the entire 2011-12 fiscal,the consolidated net profit dipped 6.87 per cent to Rs 409.90 crore from Rs 440.16 crore in the previous fiscal,the company said. The consolidated total income from operation in FY'12 went up 37.05 per cent to Rs 12,153.29 crore from Rs 8,867.72 crore in FY'11,it added. Commenting on the result,Apollo Tyres Chairman Onkar S Kanwar said: "The conditions in our largest market,India,have not been easy. Same applies for the South African economy." The stability in the raw material prices,especially during the second half of the fiscal,has eased some pressure on the company's margins,he added. Reacting to the numbers,shares of the company closed 3.31 per cent down at Rs 81.80 apiece on the BSE.
