Apollo Tyres Reports Q1 Net Loss Of Rs 135 Crore

Published On 06-Aug-2020By TyreDekho Team

The tyre maker had reported a net profit of Rs 142 crore in the April-June last fiscal

Apollo Tyres Reports Q1 Net Loss Of Rs 135 Crore

Homo grown tyre major, Apollo Tyres on Wednesday reported a consolidated loss of Rs 135 crore for the quarter ended June 30, 2020, due to the disruption caused in the business by the Coronavirus outbreak.

While the pandemic deeply impacted the operations across geographies in the quarter under review, the company still recorded its highest ever sales in the replacement market in India in the month of June. The European Operations continued with its better than the industry performance, despite the pandemic related challenges across different countries, said the company in a release.

Apollo Tyres had posted a consolidated profit of Rs 141.6 crore in the corresponding period of the previous fiscal.

Net sales during the quarter under review declined to Rs 2,828 crore, from Rs 4,272 crore in the year-ago period, Apollo Tyres said in a statement.

Commenting on the first quarter results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “The teams across geographies have shown tremendous resilience amidst the pandemic, and have adopted to the new normal for business continuity. Keeping the Apollo Family safe is our primary concern during these trying times.”

“While the first half of the first quarter was almost a complete washout, our performance has been excellent since the markets opened up, especially in the replacement market. While the uncertainty will continue, and we will have to find opportunities for growth, I am hopeful of the markets further recovering and the sales bouncing back around the festive season in India. In Europe, we are performing better than the industry, which is likely to continue going forward as well.”

You Might Also Be Interested In

Top Rated Apollo Tyres

Latest Tyres

  • Car
  • Bike
  • Truck
  • SPORTRAD
    SPORTRAD
    110/70Z R17 54W
    Rs5,999
    • iconBike Tyre
    • icon
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Zapper C1
    Zapper C1
    90/100 R10
    Rs1,345
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Centauro NS
    Centauro NS
    190/55 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Smart Blaze RYDR BR43
    Smart Blaze RYDR BR43
    140/70-17
    Rs4,200
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Conta 725
    Conta 725
    90/90 R12
    Rs1,490
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • icon5
    M6303
    M6303
    90/90 R12 54J
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • BT SPORTMAXX
    BT SPORTMAXX
    140/70 R17
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Feelfree
    Feelfree
    120/70 R15 56H M/C
    Price Coming Soon
    • iconBike Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers

Best Tyres

  • Car
  • Bike
  • Truck
  • SecuraDrive
    SecuraDrive
    205/60 R16
    Rs6,870
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • Fuel Smarrt
    Fuel Smarrt
    165/80 R14 85T
    Rs3,720
    • iconCar Tyre
    • iconTubeless
    • iconFuel efficient
    • iconDry Grip
    View June Offers
  • Sturdo
    Sturdo
    205/55 R16
    Rs10,814
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • ZVTV
    ZVTV
    185/65 R15 88T
    Rs4,299
    • iconCar Tyre
    • iconTubeless
    • iconWet Grip
    • iconDry Grip
    View June Offers
  • icon5
    Energy XM2
    Energy XM2
    165/70 R14 81T
    Rs3,880
    • iconCar Tyre
    • iconTubeless
    • iconHandling
    • iconWet Grip
    View June Offers
  • Milaze
    Milaze
    145 R12
    Rs1,976
    • iconCar Tyre
    • iconTubeless
    • iconFuel Efficient
    • iconWet Grip
    View June Offers
  • icon5
    Earth-1E400
    Earth-1E400
    185/65 R15 88H
    Rs6,563
    • iconCar Tyre
    • iconTubeless
    • iconFuel efficient
    • iconHandling
    View June Offers
  • ZLX
    ZLX
    165/80 R14 85T
    Rs4,683
    • iconCar Tyre
    • iconTubeless
    • iconWet Grip
    • iconDry Grip
    View June Offers
×
Which is your city ?