Apollo Tyres Q4 Net Profit Increases Four-Folds To Rs 289 Crore
Published On 14-May-2021 17:13:47
Company had reported a consolidated net profit of Rs 78 crore in the January-March quarter of 2019-20
Home grown tyre major, Apollo Tyres posted a close to a four-fold increase in its consolidated net profit at Rs 289 crore for the fourth quarter ended March 31, 2021.
The company had reported a consolidated net profit of Rs 78 crore in the January-March quarter of 2019-20.
Revenue from operations rose by 39 per cent to Rs 5,026 crore, as compared with Rs 3,616 crore in the year-ago period, Apollo Tyres said in a release.
For 2020-21 fiscal, Apollo Tyre reported a net profit of Rs 958 crore, a two-fold increase, as compared with Rs 476 crore in 2019-20.
Revenue (from Operations) rose by 6 per cent to Rs 17,397 crore, as compared with Rs 16,350 crore in the 2019-20 financial year.
"What started as an extremely challenging year, with lockdowns across geographies, ended on a very healthy note for us with robust revenue growth across market segments and geographies," Apollo Tyres Chairman Onkar Kanwar said.
Ensuring business continuity along with the safety of our employees have been of paramount importance throughout this pandemic, and considering the current situation, especially in India, we cannot let our guard down, he further added.
Onkar noted that the year ahead is full of challenges, with demand getting impacted due to the lockdowns, and pressure on margin front, due to the rising raw material prices.
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