Apollo Tyres Ltd. has posted a 32.06% drop in its standalone net profit for the second quarter ended September 2019 to ₹99.62 crore on lower sales volume.
During the period under review, the company reported a total sales of ₹2,715 crore against ₹3,044 crore registered during the year-earlier period.
“Amidst challenging market conditions, we did see positive volume growth in the replacement market, both in passenger vehicle and commercial vehicle tyre segments in India.
“European operations have also reported positive volume growth, on the back of exemplary test results for winter and all-season tyres by leading auto magazines, for both Apollo and Vredestein brands,” said Onkar S. Kanwar, CMD, Apollo Tyres.
