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Apollo Tyres, on Tuesday, reported a consolidated net profit of ₹474 crore in the second quarter ended September 30, up 165 per cent year-on-year, compared to ₹179 crore in the same period last year.
Consolidated total income for the company also rose by six per cent y-o-y to ₹6,304 crore for the quarter in review, compared to ₹5,962 crore in the July-September quarter last year, said the company.
“We remain steadfast in our commitment to achieving profitable growth, aligned with our long-term vision. Our operations have experienced positive revenue growth, and we are witnessing encouraging signs, particularly from India, indicating further demand improvement in the future,” said Onkar Kanwar, Chairman, Apollo Tyres.
Positive revenue growth was reported, especially from Indian operations in the second quarter, and in the first half of the fiscal year, said the company.
On half yearly (H1) basis, the consolidated net profit grew by around 145 per cent y-o-y to ₹871 crore, compared to ₹356 crore in the same period last fiscal year.
Similarly, total income also grew by around six per cent to ₹12,585 crore in H1 this year, against ₹11,915 crore in the April-September period last year. Shares of Apollo Tyres closed at ₹385.30 apiece on the BSE on Tuesday, down 1.98 per cent from the previous close.
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