Apollo Tyres Q4 Net Plunges 7 Percent At Rs 78 Cr

Published On 20-May-2020By TyreDekho Team

Net sales closed at Rs 3551 crores, as compared to Rs 4176 crores in the previous fiscal

Apollo Tyres Q4 Net Plunges 7% At Rs 78 Cr

Apollo Tyres Ltd has reported a decline of 7.2 percent year-on-year decline in consolidated net profit at Rs 77.8 crore for the quarter ending March 31. The company reported a net profit of ₹83.99 crore in the corresponding period last fiscal.

According to the company, net sales in the quarter under review stood at Rs 3,551 crore, down by 15 per cent compared to Rs 4,176 crore reported in the corresponding quarter of the previous financial year.

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd, said, “Along with the demand in the replacement market, we saw some improvement in demand from OEs as well in the fourth quarter, before the widespread disruption caused by COVID-19 put us all in an uncharted territory.

“Our teams across geographies have shown great resilience and adaptability in this difficult situation; various actions have been taken at our Operations around the world to protect our people and to ensure Business Continuity under these circumstances. With lockdowns easing, the demand has started picking up gradually across product and market segments, giving us some relief.”

Auto manufacturer and component supplier closed their factories from 22 March, following the lockdown announced by the central and state government to curb the spread of Covid-19 pandemic. Apollo Tyre also had to shut its plant in India and other countries, due to the pandemic.

The operating profit remained at Rs 473 crore due to the reduction in raw material cost as the company resorted to production cuts during this period to keep the supply-demand mismatch in check.

You Might Also Be Interested In

Latest Tyres

  • Car
  • Bike
  • Truck
  • Zapper C1
    Zapper C1
    90/100 R10
    Rs1,345
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • Gripp XL F
    Gripp XL F
    90/90 R19 52P
    Rs2,235
    • iconBike Tyre
    • iconTube
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • Centauro NS
    Centauro NS
    190/55 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • Smart Blaze RYDR BR43
    Smart Blaze RYDR BR43
    140/70-17
    Rs4,200
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • Conta 725
    Conta 725
    90/90 R12
    Rs1,490
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • icon5
    M6303
    M6303
    90/90 R12 54J
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • BT SPORTMAXX
    BT SPORTMAXX
    140/70 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers
  • Feelfree
    Feelfree
    120/70 R15 56H M/C
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View August Offers

Best Tyres

  • Car
  • Bike
  • Truck
×
Which is your city ?