Apollo Tyres Q1 results: Net profit dips 24% to Rs 302 cr on lower sales

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Apollo Tyres Q1 results: Net profit dips 24% to Rs 302 cr on lower sales - Business Standard

Quick Summary:

Apollo Tyres on Wednesday said its consolidated net profit declined by 24 per cent to Rs 302 crore for the first quarter ended June 30, 2024 on account of lower sales and escalation in raw material cost.

"Coming to our quarterly performance, the replacement and exports from India have witnessed a good growth, and we expect the same to continue in the coming quarters as well," Apollo Tyres Chairman Onkar Kanwar said.

Revenue from operations for the quarter under review stood at Rs 6,335 crore, as against Rs 6,245 crore in the year-ago period, Apollo Tyres said in a statement.