The Board of Directors of Apollo Tyres Ltd today approved the company’s unaudited results for the 3rd quarter and nine months of the financial year 2020-21.
Apollo Tyres Ltd’s consolidated sales for the 3rd Quarter (October to December) closed at Rs 4,965 crores. The Sales for the nine months (April to December) of FY21 closed at Rs 12,027 crores. Sales for Indian Operations grew 20% on the back of improved demand from both OEM and Replacement segments. In Europe, despite a sluggish demand environment, the company continued to make inroads in the premium segment.
Quarter 3 Consolidated Performance Highlights Q3 FY2020-21 (October – December) vs Quarter 3 FY2019-20
Commenting on the company’s performance, Onkar Kanwar, Chairman, Apollo Tyres Ltd said, “Our performance across geographies, have been robust in the past quarter, and we continue to be extremely positive on the demand environment. Given our planned investments in capacity, R&D, brand and distribution, along with our cost optimisation programme, we are extremely well placed to leverage demand recovery across segments and geographies. Also, the Indian Government turning to expansionary mode in FY22 budget, with a clear focus on growth, and the announcement on scrappage policy, is going to be a boost for us going forward.”
9 months Consolidated Performance Highlights 9M FY2020-21 (April – December) vs 9M FY 2019-20 (April – December)
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