The domestic operations saw a robust 26 percent jump in sales, while the European operations grew by 17 percent in Q2 FY2019.
The country's leading tyre manufacturer Apollo Tyres reported its Q2 FY2019 revenue of Rs 4,192 crore, up 23 percent YoY. The company reported a net profit of Rs 146 crore, an increase of 4 percent YoY.
According to Apollo Tyres' the domestic operations saw a robust 26 percent jump in sales, while the European operations grew by 17 percent in Q2 FY2019.
For the first half of the year (April – September 2018), the company reported revenue of Rs 8,442 crore, up 22 percent YoY. The net profit grew by 74 percent at Rs 398 crore (H1 FY2017: Rs 228 crore).
Commenting on the company’s performance Onkar S Kanwar, chairman, Apollo Tyres, said, “In a quarter, when our two plants were impacted by floods, we had to deal with transporter’s strike in India, and the volatile raw material prices, our teams across geographies have performed remarkably well. We are looking forward to a similar growth momentum in the next few quarters as well.”
Also read: Apollo Tyres' Onkar S Kanwar conferred 'Order of the Rising Sun, Gold & Silver Star’ of Japan
Apollo Tyres' Onkar S Kanwar conferred 'Order of Merit' of Hungary
Apollo Tyres to invest Rs 1,800 crore in new plant in Andhra Pradesh
SIAM and ACMA laud new foreign trade policy as growth accelerator
India Auto Inc’s apex bodies welcome multiple measures in the new Foreign Trade Policy that will help India to become a ...
Citroen India exports first batch of C3s to ASEAN and Africa
Four weeks after signing an MoU with Kamarajar Port, Citroen India begins exports of its C3 hatchback to ASEAN and Afric...
Hero MotoCorp appoints Niranjan Gupta as CEO
India’s two-wheeler market leader elevates Chief Financial Officer, Head - Strategy and M&A to CEO, effective May 1; Dr....