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Apollo Tyres' Q4 net drops 7% due to tepid vehicle sales in India and Europe

city New Delhi India covid-19 pandemic Government
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Owing to tepid demand for vehicles across geographies, the revenue from operations declined significantly by 15.5% to ₹3,610 cr New Delhi: Apollo Tyres Ltd – one of the country’s largest tyre manufacturers – on Tuesday reported 7.2% year-on-year decline in consolidated net profit to ₹77.8 crore for the quarter ending March 31, on account of subdued demand for its products in India and European markets.

The company reported a net profit of ₹83.99 crore in the corresponding period last fiscal. Due to tepid demand for vehicles across geographies, the revenue from operations declined significantly by 15.5% to ₹3,610.13 crore.

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India
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