closes at Rs 4347 crores
Company continues to gain market share in the replacement segment
The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 3rd quarter and nine months of the financial year 2019-20.
Apollo Tyres Ltd’s consolidated revenue for the 3rd Quarter (October to December) closed at Rs 4347 crores.The Sales for the nine months (April to December) of FY20 closed atRs 12545 crores. While the challenges continue in the OE segment, company witnessed good growth in the replacement segment in India, especially in the passenger vehicle category, and also gained market share.
Commenting on the company’s performance, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “The last few quarters have really been challenging, in terms of demand, especially from the OE segment. Despite our good show quarter-on-quarter in the replacement segment in India, overall performance has got impacted due to the sluggishness in demand from OEMs. Our European Operations, on the other hand, continues with its superior performance in the all-season and high performance segment. With green shoots of recovery visible in India, we are hopeful of closing this fiscal on a positive note.”
|
Rs Billion |
US$ Million |
Euro Million |
|||
FY 2019-20 |
Q3 |
9M (Apr–Dec) |
Q3 |
9M (Apr–Dec) |
Q3 |
9M (Apr–Dec) |
Sales |
43.47 |
125.45 |
610.45 |
1782.01 |
551.29 |
1599.71 |
Operating Profit |
5.51 |
14.90 |
77.51 |
211.61 |
69.96 |
189.96 |
Net Profit |
1.74 |
3.99 |
24.50 |
56.61 |
22.09 |
50.82 |