Apollo Tyres H1 net sales at Rs 8198 cr

Apollo Tyres H1 net sales at Rs 8198 cr

Apollo Tyres’ has reported total revenue of Rs 3926 crore and profit of Rs 83 crore in the September quarter of 2019-20. The net sales and profit were Rs 4192 cr and Rs 146 cr respectively in the same period last fiscal. For the first half of the fiscal, the company posted a profit of Rs 225 cr on a sales of Rs 8198 crore. Operating profit for the second quarter was Rs 436 cr as against Rs 480 cr last fiscal.

The company said that the European Operations reported a single-digit growth in revenue during the period, the Indian Operations’ (standalone) revenue was impacted by the slowdown in the Indian market, especially in the OE segment.

“Amidst challenging market conditions across the automotive sector in India, we did see positive volume growth in the replacement market, both in passenger vehicle and commercial vehicle tyre segments in India. European Operations have also reported positive volume growth, on the back of exemplary test results for winter and all-season tyres by leading auto magazines, for both Apollo and Vredestein brands,” said Onkar S Kanwar, Chairman, Apollo Tyres.

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