Apollo Tires This fall web revenue down 14 %

New Delhi Apollo Tires on Tuesday reported a 13.7 per cent decline in web revenue at Rs 354 crore for the January-March quarter of 2023-24, in comparison with Rs 410.30 crore for a similar interval final yr. The Apollo Tires board has advisable a dividend of Rs 6 per fairness share (i.e. 600 per cent) at face worth of Re 1 for FY2024, topic to shareholder approval on the firm’s upcoming AGM.

The fee was made/despatched on or earlier than 30 days of the conclusion of the AGM, the corporate mentioned in a inventory change submitting. The tire main recorded income from operations at Rs 6258.20 crore, barely increased than Rs 6247.33 crore throughout the identical interval final yr. The corporate’s EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization) stood at Rs 1028 crore, up 3 per cent year-on-year.