Apollo Tyres Net Profit At Rs 128 Cr In Q1

Apollo Tyres on Wednesday posted a consolidated net profit of Rs 128 crore for the first quarter ended June 30.

The tyre major had reported a net loss of Rs 135 crore in the April-June period of last fiscal.

Revenue from operations for the quarter stood at Rs 4,584 crores, as against Rs 2,882 crore in the Q1 of 2020-21.

'We have adapted to the new way of working amidst the pandemic. We were better prepared in the second wave, as compared to the first wave in Q1 last fiscal. The performance reflects the resilience of the company, even as the employees across geographies worked like one family to help each other in the times of crisis,' Apollo Tyres Chairman Onkar Kanwar said in a statement.

With the improving business sentiment and demand for products, the company is optimistic of continuing with stellar performance across geographies, he added.

Apollo Tyres shares on Wednesday ended 1.76 per cent down at Rs 225.50 apiece on the BSE. 

(PTI)