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Apollo Tyres on Wednesday reported a consolidated net profit of ₹200 crore for the second quarter ended September 30, more than double of ₹83 crore in the corresponding period last year.
Net sales were also up 8 per cent year-on-year (YoY) to ₹4,234 crore during the period as against ₹3,926 crores in the second quarter last year.
“Apollo Tyres family stands firmly in these challenging times, with a steely determination to move ahead in the uncharted waters. In India, we have reported our best ever volumes in the truck-bus and passenger car tyre categories in the replacement market and have expanded our distribution footprint," Onkar S Kanwar, Chairman, Apollo Tyres said.
In Europe, the company has gained market share in passenger car tyre segments, in addition to securing podium positions in independent test results.
"While there is uncertainty around Covid-19, we continue to see healthy demand momentum on the ground,” he added.
Shares of Apollo Tyres closed at ₹147.90 apiece on the BSE on Wednesday, up 3.46 per cent from the previous close.
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