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NEW DELHI : Apollo Tyres on Tuesday reported a 7.36 per cent decline in its consolidated net profit to ₹77.8 crore for the fourth quarter ended March 31, 2020.

The company had posted a net profit of ₹83.99 crore for the January-March period of 2018-19. Total income of the company declined to ₹3,607.74 crore for the fourth quarter as compared with ₹4,322.24 crore in the same period of 2018-19, Apollo Tyres said in a statement. "Along with the demand in the replacement market, we saw some improvement in demand from OEs as well in the fourth quarter, before the widespread disruption caused by COVID-19 put us all in an uncharted territory," Apollo Tyres Chairman Onkar S Kanwar said.

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