Apollo Tyres’ Q3 revenue up 10 percent on cost control, price hike

Apollo Tyres' Indian and European operations witnessed a growth of 11% each, in revenue, in the third quarter.

Autocar Professional BureauBy Autocar Professional Bureau calendar 02 Feb 2022 Views icon10581 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Apollo Tyres’ Q3 revenue up 10 percent on cost control, price hike

Apollo Tyres posted a 10 percent increase in revenue on a consolidated basis at Rs 5707 crores compared to Rs 5195 crores in Q3 FY2021. Net profit for Q3 came in at Rs 224 crores, as against Rs 444 crores in Q3FY2021.

Both the Indian and European operations witnessed a growth of 11% each, in revenue, in the third quarter, and the company plans to continue cost control measures and pricing actions.

Commenting on the company’s performance, Onkar Kanwar, Chairman, Apollo Tyres said “Despite the headwinds, we have seen a healthy growth in the third quarter, contributed by a strong performance in the European Operations and Exports out of India. Considering the cost inflation, which is likely to continue in the near-term, we intend to take further pricing actions at the opportune time, along with other cost control measures. We continue to expand our product range and footprint across key markets, to align with the robust demand momentum going forward.”

Tags: Apollo Tyres
RELATED ARTICLES
Bajaj Auto launches new Chetak 3503 at Rs 110,000

auther Autocar Professional Bureau calendar29 Apr 2025

The Chetak 3503, with a claimed range of 155km, 63kph top speed and a slower charging time than its 35 Series siblings, ...

Hyundai walks the eco talk with biogas plant, material recovery plant in Gurugram

auther Autocar Professional Bureau calendar22 Apr 2025

Operational since October 2022, the facility targets sustainable waste management in Gurugram by undertaking scientific ...

Rajiv Bajaj reappointed MD and CEO of Bajaj Auto for five-year term

auther Autocar India calendar19 Mar 2025

Bajaj Auto’s Board of Directors has approved the re-appointment of Rajiv Bajaj as the company’s MD and CEO for another f...