Apollo Tyres: A High-Flying Fourth Quarter with 276% YoY Profit Growth

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The company attributed the growth in profit to strong demand and cost efficiency measures. Apollo Tyres also reported a 45 percent YoY growth in standalone net profit for the same quarter at Rs 288.2 crore, compared to Rs 198.4 crore in the same period last year. Standalone revenue for the quarter stood at Rs 4,193 crore, up 18 percent YoY. Commenting on the results, Apollo Tyres’ Chairman, Onkar S. Kanwar, said that the company’s focus on cost-cutting, enhanced efficiencies, and proactive measures helped it navigate through the pandemic-related challenges and outperform the industry. Looking ahead, the company remains cautiously optimistic about the future, citing ongoing uncertainties due to the pandemic and rising raw material costs. Apollo Tyres plans to continue its focus on cost efficiency and improving margins while expanding its market presence.