For the quarter ended June 30, 2018, Apollo Tyres Ltd, on a consolidated level, reported a profit of Rs 252 crores on the net sales of Rs 4249 crores. The net sale was up 30% aided by a healthy growth both in India and Europe across product segments for the company. While Indian Operations, backed by a robust performance of the commercial vehicle and passenger car tyre segments, grew 32% to close at Rs 3021 crores, European Operations’ revenue was up 22% to close at Rs 1242 crores.
Commenting on the results, Mr. Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “All our operations have done well in the past quarter, and have reported a good set of numbers. This is a result of planning and investments in capacities, both in India and Europe, in addition to the increasing demand for our products with the OEMs, as well as, in the replacement market. Going forward, our growth momentum will continue despite the challenges posed by the raw material cost push, transporters strike and the new loading norms for commercial vehicles in India.”