Apollo Tyres has announced its financial results for the Q2 and H1 FY2024.
In Q2 the company posted revenue of Rs 6,280 crore, up 5% YoY and net profit of Rs 474 crore, as against Rs 179 crore for the same period last year.
For H1, the revenue came at Rs 12,524 crore, an increase of 5% over the same period last fiscal, while net profit came at Rs 871 crore, as against Rs 357 crore last year.
The company attributes the robust performance, especially from Indian operations, which was witnessed in the second quarter, and in the first half of the fiscal year.
Onkar Kanwar, Chairman, Apollo Tyres said “We remain steadfast in our commitment to achieving profitable growth, aligned with our long-term vision. Our operations have experienced positive revenue growth, and we are witnessing encouraging signs, particularly from India, indicating further demand improvement in the future.”
