UPDATE 1-Apollo Tyres Q1 net up 4 pct, costs pinch

Newswire

(Adds details, quotes, share price) NEW DELHI, July 18 (Reuters) - Apollo Tyres Ltd's quarterly profit rose 4 percent, as rising raw material prices shaved off gains from higher sales, and the tyre maker said cost pressures would remain for the next few quarters. Raw material prices rose 18 percent in the April-June quarter for the tyre-maker, bringing down profit margins by 40 basis points to 4.4 percent, Sunam Sarkar, chief of corporate strategy and marketing told Reuters on Friday. ...

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