Apollo Tyres Ltd. has posted a consolidated net profit of ₹174 crore for the second quarter ended September against a net loss of ₹246 crore in the year-ago period.
During the period under review, the company registered 18% growth in its revenue to ₹5,077 crore. Both Indian and European operations witnessed revenue growth, it said in a statement.
“The pressure on margin front continues, due to the rising raw material prices, despite taking multiple price corrections in the last few months,” said Onkar Kanwar, chairman.
“Some of the recent additions to our product offering, is helping us further extend our leadership in the commercial vehicle and passenger vehicle space in India. Europe too, continues to grow, especially in the ultra high performance and ultra ultra high performance segment in passenger vehicle category,” he said.
