Apollo Tires Q2 consolidated net profit at Rs 174 cr, Auto News, ET Auto

During the period April-September, the company posted a consolidated net profit of Rs 302 crore. He had reported a net loss of Rs 381 crore during the same period of the previous fiscal year.

New Delhi: Apollo Tires on Friday released consolidated net profit of Rs 174 crore for the second quarter ended September, thanks to strong sales in domestic and international markets. The local tire maker reported a net loss of Rs 246 crore in the corresponding period of the previous fiscal year.

Second-quarter operating income rose 18% to Rs 5,077 crore, from Rs 4,295 crore in the period last year, Apollo Tires said in a statement.

“We have seen strong demand for our products in all categories and in all geographies, which is visible in the healthy growth in revenues, both for the second quarter and the first half of the year,” said noted Apollo Tires president Onkar Kanwar.

Some of the recent additions to the product offering are helping the company further expand its leadership in commercial and passenger vehicles in India, he added.

“Europe also continues to grow, particularly in the UHP (ultra-high performance) segment and UUHP in the PV category. a few months, ”Kanwar said.

During the period April-September, the company posted a consolidated net profit of Rs 302 crore. He had reported a net loss of Rs 381 crore during the same period of the previous fiscal year.

Operating income during the period under review increased by 31% to reach INR 2,986.66 crore compared to INR 2,274.84 crore recorded during the period of the previous year.


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