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Apollo Tyres Q2 net up about 18 per cent

 DarcyHazlitt
  56
 May 29, 2024

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NEW DELHI: Apollo Tyres today announced a 17.52% growth in consolidated revenue and net profit to Rs. 2,579.4 crore for the second quarter ended September 30, 2014-15, driven by growth in exports.

The company reported a net profit of Rs. 219.47 crore for the July-September quarter of 2013-14.

The company positively informed the BSE based on the filing that the net sales for the second quarter of the current fiscal were Rs. 3,300.64 lakhs, down 3.86% from Rs. 3,433.45 lakhs in the same period last year.

Onkarr S Kanwar, Chairman, Apollo Tyres Limited said, “18-24-24 After a month of planning and judicious implementation, we have increased our exports to India and with the increased demand for our products in the Middle East and ASEAN, we expect these exports to increase in the region as well.” He said. Volume.”

“Given the expected growth in exports and the expected recovery of the Indian commercial vehicle industry, our South India expansion projects in Chennai and Cochin are moving at full speed. Exports have grown by over 30% and are paying off with significant economic benefits. growth in the Indian business, the company said in a statement. Strong.

Apollo He said that because Steam was sold last fiscal year In some of its African operations, the company’s consolidated revenue levels in the second quarter were flat at half of the current fiscal year.

During the same period last year, the total expenditure was Rs 29,287.7 million and Rs 30,853.2 million.

In the first half of 2014-15, the company made a net profit of Rs 4,858 crore on net sales of Rs 65,360 crore.

In H1 2013-14, the company reported a net profit of Rs. 385.4 crore on net sales of Rs. 662.3 crore.

Apollo Tyres stock BSE closed 1.29% higher at Rs 236.05.

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