Apollo Tyres net down, sees lagging rubber rally again

(Reuters) - Apollo Tyres Ltd On Wednesday reported a 27 percent drop in quarterly profit and warned of challenging FY12 as raw material costs continue to spiral. Apollo's Jan-March consolidated profit fell to 1.9 billion rupees on rising rubber costs, though sales grew 27 percent to 27.3 billion rupees. The standalone profit fell 43 percent. "This year (FY12) will continue to remain challenging

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