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Apollo Tyres reports Rs 302 crore in net profit during Q1 FY25
"The replacement and exports from India have witnessed good growth, and we expect the same to continue in the coming quarters as well," said Onkar Kanwar.
By Autocar Professional Bureau
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Apollo Tyres reported a net profit of Rs 302 crore during Q1 FY25 as against Rs 397 crore during the same period last year. Meanwhile, revenue from operations closed at Rs 6335 crore when compared with Rs 6245 crore in Q1 FY24.
Commenting on the company’s performance in the first quarter, Onkar Kanwar, Chairman, Apollo Tyres Ltd said, "The replacement and exports from India have witnessed good growth, and we expect the same to continue in the coming quarters as well. Europe continues to perform well under current market conditions."
The company’s consolidated revenues for the financial year 2024 grew 3% to close at Rs 25,378 crore, whereas net profit was up 65% to close at Rs 1,722 crore, as against Rs 1,046 crore in the same period last fiscal. This has been due to the various measures we implemented to enhance its financial performance, the company said.
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