Apollo Tyres Q2 net profit rises 4%

Gurgaon-based Apollo Tyres on Tuesday reported a 4 per cent increase in net profit at Rs 146 crore for the second quarter ended September 30, 2018.

The company had recorded net profit of Rs 140 crore in the year-ago period.

Sales for the company rose 23 per cent to Rs 4,192 crore in the period under review.


Apollo Tyres Chairman Onkar Kanwar said, “In a quarter, when our two plants were impacted by floods, we had to deal with transporter’s strike in India, and the volatile raw material prices, our teams across geographies have performed remarkably well.”

Kanwar said Apollo Tyres is looking forward to a similar growth momentum in the next few quarters as well.