CHENNAI: Tyre manufacturer Apollo Tyres said it plans to enter the Eastern Europe market for setting up a new green field facility, as part of strengthening its brand in the overseas market.
“We are looking for another facility in Eastern Europe. It is only in the nascent stage right now,” Apollo Tyres Chairman Onkar S Kanwar told reporters here.
The board, which met in Chennai city for the first time, announced a net sales of `2,368 crore for the December quaarter, up from `2,296 crore, and net profit dropping to `120 crore from `187 crore.
The consolidated financials take into account revenues of Apollo Tyres India, Apollo Tyres South Africa and Apollo Vredestein B V, Netherlands.
The nine months consolidated performance highlights (April-December) showed the net sales closing at at `6138 crore, up from `5977 crore.
The net profit fell to `248 crore `390 crore.