Apollo Tyres Jul-Sept net soars on soft input cost


NEW DELHI/MUMBAI, Oct 26 (Reuters) - Apollo Tyres Ltd's quarterly net profit more than doubled from a year ago, helped by softer raw material cost, but it said on Friday resurgent input prices was a cause for concern. The company, which makes car and truck tyres, said its raw material expense fell almost 2 percent to 5.8 billion rupees despite a 10 percent increase in sales. "Profit (net) margins for the quarter are up at 6 percent, it was only 2.5 percent," Onkar Kanwar told Reuters ...

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