Apollo Tyres Edges Lower After Reporting Profit Of Rs 128 Crore In June Quarter

Apollo Tyres Share Price: On Thursday, Apollo Tyres opened on the BSE at Rs 225.50, inching to an intra day high of Rs 231.40 and an intra day low of Rs 221.20, throughout the session today.

Share price of Apollo Tyres edged lower by more than one per cent on Thursday, August 5, a day after announcing its April-June quarter results for the financial year 2021-22. On Thursday, Apollo Tyres opened on the BSE at Rs 225.50, inching to an intra day high of Rs 231.40 and an intra day low of Rs 221.20, throughout the trading session today. Apollo Tyres reported a net profit of Rs 128 crore on a consolidated basis in the first quarter of the current fiscal, compared to a net loss of Rs 135 crore in the corresponding quarter last year. The company's revenue from operations in the June quarter stood at Rs 4,854 crore, compared to Rs 2,882 crore in the same quarter last year, registering a growth of 59 per cent year-on-year, according to a regulatory filing by the company to the stock exchanges. Apollo Tyres' total income in the Juen quarter stood at Rs 4,624 crore, compared to Rs 2,900 crore in the year-ago period. During the quarter, the company's Indian and European operations performed well, with their revenues increasing 82 per cent and 28 per cent respectively, compared to the corresponding quarter of last fiscal. The APMEA (Asia Pacific, Middle East, and Africa) segment reported revenue of Rs 3,272 crore in the June quarter.