The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited financial results for the 2nd quarter and the first 6 months of the financial year 2012 - 13.
Apollo Tyres' consolidated revenues for the 2nd quarter saw a healthy growth of 18%; and for the first half of the year by 15%. Most of the July to September growth was driven by India, which grew 24% riding on increased sale of truck-bus radials. South Africa, which is witnessing an upward trend in the automotive sales -- a positive sign for the company, saw a topline growth of 29%. European Operations’ revenue too grew despite the larger economic concerns and slowing automotive sales across the continent.
Quarterly Performance Highlights
Quarter 2 FY2012-13 (July-September) vs Quarter 2 FY2011-12
Half Yearly Performance Highlights
FY2012-13 (April-September) vs FY2011-12
Speaking on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd, said “Despite the challenging circumstances, we have succeeded in maintaining a healthy topline and bottomline. Our revenues received a booster dose, riding on the replacement demand, more so in India and South Africa. Our investment decision, made at a difficult time, to set up the Chennai Plant is now paying off, as the market seeks more Truck & Bus radial tyres from us."
Cross Currency Reference Chart for Key Financials
Rs Billion |
US$ Million |
Euro Million |
|||||||
|
|
|
|||||||
Net Sales |
|
|
|
||||||
Operating Profit |
|
|
|
||||||
Net Profit |
|
|
|