Apollo Tyres, one of the leading tyre manufacturers in India has announced its financial results for Q3 and 9M of FY2024.
The company reported revenue of Rs 6,595 crore, up 3 percent in Q3, as against Rs 6,423 crore for the same period last year. The net profit came at Rs 497 crore versus Rs 279 crore a year ago.
For the 9M FY2023-24 revenue from operations was up 4% to Rs 19,120 crore, as against Rs 18,321 crore a year ago. The net profit came at Rs 1,368 crore, as against Rs 636 crore for the same period last fiscal.
Onkar Kanwar, Chairman, Apollo Tyres said “Happy to share that our European Operations have outperformed the market once again in the past quarter. Additionally, we are seeing further signs of recovery in the overall European market, which is a huge positive for us. Our journey towards higher ROCE and profitable growth continued with improved product and market mix across geographies, along with stable raw material prices.”
