Apollo Tyres' third quarter sales closes at Rs 4347 crores

Apollo Tyres' third quarter sales closes at Rs 4347 crores

Company continues to gain market share in the replacement segment



February 5, 2020

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 at Rs 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.

 

Quarter 3 Consolidated Performance Highlights

Q3 FY2019-20 (October - December) vs Quarter 3 FY2018-19

  • Sales closed at Rs 4347 crores, as against 4655 crores
  • EBITDA reported was Rs 551 crores, in comparison to Rs 560 crores
  • Net profit closed at Rs 174 crores, as compared to Rs 198 crores in the same period last fiscal

 

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.”

 

9 months Consolidated Performance Highlights

9M FY2019-20 (April – December) vs 9M FY 2018-19 (April – December)

  • Sales closed at Rs 12545 crores, as against Rs 13097 crores
  • EBITDA reported was Rs 1490 crores, in comparison to Rs 1609 crores
  • Net profit closed at Rs 399 crores, as against Rs 596 crores in the same period last fiscal

 

Cross Currency Reference Chart for Key Financials:

 

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

 

(ends)