The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 1st quarter of the financial year 2021-22. Apollo Tyres Ltd reported consolidated revenue of Rs 4584 crores for the quarter ended June 30, 2021. While the second wave of the pandemic had an impact on operations, it was much less than the first wave, which occurred in Q1 of last year. Both the Indian and European operations performed well in the first quarter of this fiscal year, with revenues increasing by 82 percent and 28 percent, respectively, over the same period last year.
Quarter 1 Consolidated Performance Highlights
Q1 FY2021-22 (April – June) vs Q1 FY2020-21
- Revenue from Operations for the quarter increased 59% to close at Rs 4584 crores, as against Rs 2882 crores
- Operating profit was up 131% at Rs 567 crores, as against Rs 246 crores
- Net profit increased 195% to close at Rs 128 crores, as against as loss of Rs 135 crores in the last fiscal
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Commenting on the first-quarter results, Onkar Kanwar, Chairman, Apollo Tyres Ltd said, “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 times of crisis. With the improving business sentiment and demand for our products, we are optimistic of continuing with our stellar performance across geographies.”
Cross currency reference chart for key financials:
|Q1 FY22||Rs Crores||Rs Billion||US$ Million||Euro Million|
|Revenue from Operations||4584||45.84||621.34||515.61|
What do you think about Apollo Tyres' reported consolidated revenue? Do you think they did well in the 1st quarter of this financial year? Tell us in the comments section.
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