Apollo Tyres turned ₹68 crore profit in Q1

Apollo Tyres Ltd. has turned a standalone net profit of ₹68 crore for Q1 of FY22.

The leading tyre manufacturer had reported a net loss of ₹54 crore in the year-earlier period due to COVID-19-led lockdown, it said in a statement.

Revenue from operations rose 82% to ₹3,220 crore. The results included an exceptional item of ₹.76 lakh relating to employee reorganisation exercise.

“We have adopted to the new way of working amidst the pandemic. We were better prepared in the second wave as compared to the first wave in Q1 last fiscal,” said Onkar Kanwar, CMD.

“With the improving business sentiment and demand for our products, we are optimistic of continuing with our stellar performance across geographies,” he added.

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Printable version | Sep 22, 2021 6:26:51 PM |

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