Apollo Tyres on Thursday has reported net profit of ₹ 250 crore for the fourth quarter ended March 31, up 10 per cent compared with ₹228 crore in the same period last year.

Net sales also grew 22 per cent year-on-year at ₹3,982 crore against ₹3,269 crore in the January-March quarter last year.

Both Indian and European operations, continued with their growth momentum and registered a revenue growth upwards of 20 per cent in the last quarter of the financial year, led by a strong performance in the commercial vehicle segment, especially truck radials, in India, and passenger vehicle category in Europe, the company said.

“Shortage of a key raw material, and the increasing cost of crude-based raw materials, did pose challenges for us,” said Onkar S Kanwar, Chairman.

The raw material prices, as a basket, went up by more than 10 per cent in the past fiscal. This cost push is likely to continue putting pressure on our margins, he said.

For the full financial year, the company reported net sales of ₹14,674 crore, up 12 per cent YoY, and net profit was₹724 crore.

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