Apollo Tyres’ Q1 net profit rises by 27 per cent despite sales dip

Published On 2015-08-11 20:44:56By Shivank Bhatt 1596 views

Apollo net profit rises by 27%

Apollo net profit rises by 27%

Apollo has released the results for the first quarter of the financial year 2015-2016. The homegrown tyre manufacturer has reported a net profit increase of 27 per cent in Q1 in 2015 as compared to Q1 in 2014.

Between April-June 2015, Apollo has recorded a net profit of Rs 291 crore on the net sales over the quarter from Rs 228 crore during the same period in 2014. The sales in Q1, however, have gone down by nearly 12 per cent. The net sales stood at Rs 2,832 crore in the first quarter of 2015-16 as compared to Rs 3,223 crore in Q1 of 2014-15. The operating profit for the company rose to Rs 529 crore from Rs 458 crore, an increase of 15 per cent.

According to Apollo tyres, its European operations reported flat revenue growth in the quarter under consideration. In the Indian market, the manufacturer states that its sales have been impacted by the increasing imports of commercial vehicle tyres into the country. As per the company, more than 30 per cent of the demand for truck-bus radials from the replacement market in India is being met by these imported tyres, a majority of which are from Chinese brands.

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres, said, “In a slow-growth market across geographies, further marred by unregulated imports of tyres in India, we have planned and invested to capitalise on the future opportunities. This strategic planning will reduce our dependence on a particular market for growth and help us expand our global footprint.”

You Might Also Be Interested In

Latest Tyres

  • Car
  • Bike
  • Dunlop AT 20 Grand Trek
    Dunlop AT 20 Grand Trek
    265/65 R17 110STubeless
    Rs14699
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • Firestone FR500
    Firestone FR500
    185/65 R14 86HTubeless
    Rs3491
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • UltraMile UM 551
    UltraMile UM 551
    165/80 R14 85TTubeless
    Rs3505
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • Bridgestone B290
    Bridgestone B290
    155/65 R12 77TTube
    Rs2985
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • CEAT CZAR A/T
    CEAT CZAR A/T
    265/65 R17 12STubeless
    Rs10380
    • iconDry Grip
    • iconWet Grip
    • iconHandling
    Contact Dealer
  • Apollo Amazer 3G
    Apollo Amazer 3G
    145/70 R12 69TNA
    Rs2800
    • iconFuel efficient
    • iconDry Grip
    Contact Dealer
  • Birla BT 444
    Birla BT 444
    5.65 R12 6PRTube
    Rs2000
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • Pirelli P7
    Pirelli P7
    225/50 R17 94WNA
    Rs10505
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer

Best Tyres

  • Car
  • Bike
  • CEAT SecuraDrive
    CEAT SecuraDrive
    Tubeless
    Rs4,445
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • MRF ZLX
    MRF ZLX
    Tubeless
    Rs2,495
    • iconWet Grip
    • iconDry Grip
    Contact Dealer
  • JK Vectra
    JK Vectra
    Tubeless
    Rs2,400
    • iconWet Grip
    • iconDry Grip
    • iconHandling
    • iconLow noise
    Contact Dealer
  • JK Taximax
    JK Taximax
    Tubeless
    Rs2,800
    • iconFuel Efficient
    • iconWet Grip
    Contact Dealer
  • MRF ZVTV
    MRF ZVTV
    Tubeless
    Rs7,325
    • iconWet Grip
    • iconDry Grip
    Contact Dealer
×
Which is your city ?