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Apollo Tyres Q1 net rises 53% to ₹104 crore

Tighter control on costs, enriching of product mix and timely pricing actions across markets helped us tide over the continued spike in raw material prices in Q1,” says Apollo Tyres chairman Onkar Kanwar.

Tighter control on costs, enriching of product mix and timely pricing actions across markets helped us tide over the continued spike in raw material prices in Q1,” says Apollo Tyres chairman Onkar Kanwar. | Photo Credit: KAMAL NARANG

Apollo Tyres Ltd. reported standalone net profit for the quarter rose 53% to ₹104 crore over the year-earlier period on tighter control of costs and timely pricing actions.

Revenue from operations rose 38% to ₹4,436 crore, while total expenditure shot up by 37% to ₹4,328 crore, the company said in a statement.

“Both, Indian and European operations have done well during the past quarter and reported strong top-line growth, aided by the healthy demand across segments, especially passenger vehicle tyres,” said Onkar Kanwar, chairman. “Tighter control on costs, enriching of product mix and timely pricing actions across markets helped us tide over the continued spike in raw material prices in Q1,” he added.


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Printable version | Sep 17, 2022 7:59:01 am | https://www.thehindu.com/business/apollo-tyres-q1-net-rises-53-to-104-crore/article65761945.ece