Apollo Tyres turns ₹174-cr. profit in Q2
The Hindu
Apollo Tyres Ltd. has posted a consolidated net profit of ₹174 crore for the second quarter ended September against a net loss of ₹246 crore in the year-ago period.During the period under review, the
Apollo Tyres Ltd. has posted a consolidated net profit of ₹174 crore for the second quarter ended September against a net loss of ₹246 crore in the year-ago period.
During the period under review, the company registered 18% growth in its revenue to ₹5,077 crore. Both Indian and European operations witnessed revenue growth, it said in a statement.
“The pressure on margin front continues, due to the rising raw material prices, despite taking multiple price corrections in the last few months,” said Onkar Kanwar, chairman.
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