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BWF World Tour Finals: Lakshya Sen collapses in semi-final against Viktor Axelsen        Multiply an IVF-tech startup launches is its AI-based platform that will replace conventional processes in IVF clinics        At least 31 people killed by terrorists' attack on bus in Mali        Former chief minister of undivided Andhra Pradesh Konijeti Rosaiah dies at 88        1,495 teachers in Kerala schools yet to get vaccinated        Fourth case of Omicron in India, 33-year-old Maharashtra man tests positive for new COVID-19 variant        Actor Brahma Mishra found dead at his residence in Mumbai        “Comeback King"-A short-film by KKR on Sunil Narine’s incredible journey as a cricketer        Honda sets up battery sharing service subsidiary in India        Record low birth rates in China        No travel bans imposed by India for Omicron: MEA        CPI(M) local leader hacked to death        Two confirmed cases of Omicron detected in Karnataka        BWF World Tour Finals: Sindhu makes winning start; Lakshya also through        Depositors of PMC Bank to get pre-Covid interest rate        Vaccinated California man first in US to test positive for Omicron        Kerala determined to prevent new HIV infections by 2025, says CM Pinarayi Vijayan        Doctors can’t be always blamed for negligence in deaths, says Supreme Court        Tourist inflow in J&K hit 7-year high in November: Govt        isl: Odisha come from behind to beat SC East Bengal in 10-goal thriller        
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Business News
Apollo Tyres registers Revenue of Rs 5,077 cr in Q2 FY21
 
Kochi, Apollo Tyres Limited, on a consolidated level, registered a Revenue of Rs 5,077 Crore in the second quarter, ending September 30, 2021, an increase of 18 per cent during the same period in the last fiscal.

A release here on Saturday said the Board of Directors of Apollo Tyres has approved the company’s unaudited financial results for the second quarter and H1 for the financial year 2021- 22.

For the first half of the financial year 2021-22, the company’s Revenue closed at Rs 9,662 crore, an increase of 35 per cent over the same period in the last financial year.

Indian Operations witnessed a healthy Revenue growth of 47 per cent and 25 per cent in the first half and second quarter respectively, while the European Operations also saw growth in the Revenue.

Revenue from operations was up 18 per cent to close at Rs 5,077 crore as against Rs 4295 crore in Q2 FY21, Operating profit reported was Rs 638 crore, as against Rs 707 crore.

Net profit for Q2 closed at Rs 174 crore, as against Rs (246) crore in the same period in the last fiscal in Q2 FY 2020-21.

Revenue from operations was up 35 per cent to close at Rs 9,662 crore as against Rs 7,177 crore in H1 FY21.

Operating profit was up by 26 per cent at Rs 1,205 crores, as against Rs 953 crore in the same period last year.

Net profit reported was Rs 302 crore, as against Rs (381) crores in the same period in last fiscal.

Commenting on the company’s performance, Apollo Tyres Limited Chairman Onkar Kanwar said “We have seen a robust demand for our products across categories and across geographies, which is visible in the healthy revenue growth, both for the second quarter and in the first half of the fiscal."

"Some of the recent additions to our product offering, is helping us further extend our leadership in the commercial vehicle and passenger vehicle space in India."

"Europe too, continues to grow, especially in the UHP and UUHP segment in PV category. The pressure on margin front continues, due to the rising raw material prices, despite taking multiple price corrections in the last few months,” he added.


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