Apollo Tyres’ revenue up 59 percent in the first quarter

Gurgaon, India – The board of directors of Apollo Tyres Ltd. approved the company’s unaudited results for the first quarter of the financial year 2021-22. For the quarter ended June 30, Apollo Tyres Ltd., on a consolidated basis, reported a revenue of Rs 4,584 crores. While the second wave of the pandemic did impact the operations, it was comparatively lesser than the first wave witnessed in the first quarter of last year. Both, Indian and European operations performed well, with their revenues increasing 82 percent and 28 percent, respectively, as compared to the first quarter ther last fiscal year.

Commenting on the first quarter results, Onkar Kanwar, chairman, Apollo Tyres Ltd., said, “We have adopted to the new way of working amidst the pandemic. We were better prepared in the second wave, as compared to the first wave in the first quarter of the 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 the times of crisis. With the improving business sentiment and demand for our products, we are optimistic of continuing with our stellar performance across geographies.”