November 5, 2019

The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited financial results for the 2nd   quarter (July to Sept) and H1 (Apr to Sept) for the financial year 2019 – 20.

For the quarter ended September 30, 2019, Apollo Tyres Ltd, on a consolidated level, reported a net profit of Rs 83 crores, on a Sales of Rs 3926 crores. For the first half of the year (April – September), the company posted a profit of Rs 225 crores on a Sales of Rs 8198 crores. While the Company’s European Operations reported a single digit growth in revenue, both in the second quarter and in first half of the fiscal, the Indian Operations’ (standalone) revenue was impacted by the slowdown in the Indian market, especially in the OE segment.

Quarterly Consolidated Performance Highlights

Q2 FY2019-20 (July-Sept) vs Q2 FY2018-19

• Net Sales closed at Rs 3926 crores as against Rs 4192 crores in Q2 FY19
• Operating profit reported was Rs 436 crores as against Rs 480 crores
• Net profit for Q2 of FY20 stood at Rs 83 crores, as against Rs 146 crores in the same period last fiscal

Half Yearly Consolidated Performance Highlights

H1 FY2019-20 (April-Sept) vs. H1 FY2018-19

• Net Sales reported was Rs 8198 crores as against Rs 8442 crores
• Operating profit closed at Rs 938 crores as against Rs 1048 crores
• Net profit recorded was Rs 225 crores for the first half of FY20, as against Rs 398 crores in the same period last fiscal

Commenting on the company’s performance Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “Amidst challenging market conditions across the automotive sector in India, we did see positive volume growth in the replacement market, both in passenger vehicle and commercial vehicle tyre segments in India. European Operations have also reported positive volume growth, on the back of exemplary test results for winter and all-season tyres by leading auto magazines, for both Apollo and Vredestein brands."

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