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Revenue from operations increased 5.43% year on year to Rs 6,279.66 crore in the quarter ended 30 September 2023.
Profit before exceptional items and tax stood at Rs 680.01 in Q2 FY24, steeply higher than Rs 238.43 crore posted in Q2 FY23. The company reported an exceptional item of Rs 12.20 crore in Q2 FY24.
Operating profit stood at Rs 1,160 crore, registering a growth of 63% as compared with Rs 712 crore posted in corresponding quarter last year.
In Q2 FY24, the revenue from Asia Pacific Middle East and Africa (APMEA) was at Rs 4,473.03 crore (up 4.46% YoY), Europe segment revenue was Rs 1,815.82 crore (up 3.1% YoY).
Onkar Kanwar, chairman, Apollo Tyres, said, “We remain steadfast in our commitment to achieving profitable growth, aligned with our long-term vision. Our Operations have experienced positive revenue growth, and we are witnessing encouraging signs, particularly from India, indicating further demand improvement in the future.”
Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary.
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