Apollo Tires on Friday reported a consolidated net profit of Rs 174 crore for the second quarter ended September, as against a net loss of Rs 246 crore in the corresponding period last year.
Consolidated revenue from operations increased by 18% YoY (YoY) at ₹5,077 crore compared to ₹4,295 crore in the July-September quarter of last year.
“We have seen strong demand for our products across categories and across geographies, which is evidenced by healthy revenue growth, both in the second quarter and in the first half of the fiscal year. Some of the recent additions to the Our product offerings help us increase our leadership in the field of commercial vehicles and passenger cars in India.
Europe also continues to grow, especially in the passenger car category, he said, adding that pressure on the margins continues, due to the rise in raw material prices, despite multiple price corrections being made in the past few months.
Shares of Apollo Tires closed at 212.75 rupees per piece on the Bahrain Bourse on Friday, down 0.14 percent from the previous close.