Apollo Tyres Q1 sales up 30%

Apollo Tyres Q1 sales up 30%

Growth momentum to continue going forward as well



August 1, 2018

The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 1st quarter of the financial year 2018-19.

 

For the quarter ended June 30, 2018, Apollo Tyres Ltd, on a consolidated level, reported a profit of Rs 252 crores on the net sales of Rs 4249 crores. The net sales was up 30% aided by a healthy growth both in India and Europe across product segments for the company. While Indian Operations, backed by a robust performance of the commercial vehicle and passenger car tyre segments, grew 32% to close at Rs 3021 crores, European Operations’ revenue was up 22% to close at Rs 1242 crores.

 

Quarter 1 Consolidated Performance Highlights

Q1 FY2018-19 (April - June) vs Q1 FY2017-18

  • Net sales reported was up 30% to close at Rs 4249 crores as compared to Rs 3258 crores
  • Operating profit grew 102% to Rs 569 crores as against Rs 282 crores
  • Net profit was up 185% to close at Rs 252 crores as compared to Rs 88 crores in the previous fiscal

 

Commenting on the results, Onkar S Kanwar, Chairman, Apollo Tyres Ltd said, “All our operations have done well in the past quarter, and have reported a good set of numbers. This is a result of planning and investments in capacities, both in India and Europe, in addition to the increasing demand for our products with the OEMs, as well as, in the replacement market. Going forward, our growth momentum will continue despite the challenges posed by the raw material cost push, transporters strike and the new loading norms for commercial vehicles in India.”

 

Cross Currency Reference Chart for Key Financials:

Q1 FY19

Rs Crores

Rs Billion

US$ Million

Euro Million

Net Sales

4249

42.49

633.92

532.23

Operating Profit

569

5.69

84.83

71.22

Net Profit

252

2.52

37.57

31.54

 

(ends)

For further information, please contact

- rohit.sharan@apollotyres.com or tamara.oostveen@apollovredestein.com - Rohit: +91 124 2721000 or Tamara: +31(0)20-205 44 37