Apollo Tyres Q2 profit up 4 pc at Rs 146 crore

NEW DELHI, Nov 13: Apollo Tyres Tuesday reported 4.19 per cent increase in consolidated net profit at Rs 146 crore for the second quarter ended September 30.
The company had posted a net profit of Rs 140.17 crore in the same quarter last fiscal, Apollo Tyres said in a regulatory filing.
Total income during the reported quarter stood at Rs 4,269.68 crore. It was at Rs 3,496.3 crore in the year-ago period, it added.
“In a quarter, when our two plants were impacted by floods, we had to deal with transporters’ strike in India, and the volatile raw material prices, our teams across geographies have performed remarkably well,” Apollo Tyres Chairman Onkar S Kanwar said.
He further said:”We are looking forward to a similar growth momentum in the next few quarters as well.”
The company said its sales grew 23 per cent to close at Rs 4,192 crore during the quarter from Rs 3,418 crore in the same period last fiscal led by Indian operations.
In the first half of 2018-19 (April-September), sales grew 22 per cent to reach Rs 8,442 crore as against Rs 6,931 crore in the year-ago period.
Net profit for the period was up 74 per cent at Rs 398 crore as compared to Rs 228 crore in the same period last year, the company added. (PTI)

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