Apollo Tyres registers Revenue of Rs 5,077 cr in Q2 FY21
Kochi, Oct 30 :Apollo Tyres Limited, on a consolidated level, registered a Revenue of Rs 5,077 Crore in the second quarter, ending September 30, 2021, an increase of 18 per cent during the same period in the last fiscal.
A release here on Saturday said the Board of Directors of Apollo Tyres has approved the company’s unaudited financial results for the second quarter and H1 for the financial year 2021- 22.
For the first half of the financial year 2021-22, the company’s Revenue closed at Rs 9,662 crore, an increase of 35 per cent over the same period in the last financial year.
Indian Operations witnessed a healthy Revenue growth of 47 per cent and 25 per cent in the first half and second quarter respectively, while the European Operations also saw growth in the Revenue.
Revenue from operations was up 18 per cent to close at Rs 5,077 crore as against Rs 4295 crore in Q2 FY21, Operating profit reported was Rs 638 crore, as against Rs 707 crore.
Net profit for Q2 closed at Rs 174 crore, as against Rs (246) crore in the same period in the last fiscal in Q2 FY 2020-21.
Revenue from operations was up 35 per cent to close at Rs 9,662 crore as against Rs 7,177 crore in H1 FY21.
Operating profit was up by 26 per cent at Rs 1,205 crores, as against Rs 953 crore in the same period last year.
Net profit reported was Rs 302 crore, as against Rs (381) crores in the same period in last fiscal.
Commenting on the company’s performance, Apollo Tyres Limited Chairman Onkar Kanwar said “We have seen a robust demand for our products across categories and across geographies, which is visible in the healthy revenue growth, both for the second quarter and in the first half of the fiscal.”
“Some of the recent additions to our product offering, is helping us further extend our leadership in the commercial vehicle and passenger vehicle space in India.”
“Europe too, continues to grow, especially in the UHP and UUHP segment in PV category. The pressure on margin front continues, due to the rising raw material prices, despite taking multiple price corrections in the last few months,” he added.