iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Apollo Tyres Q1 PAT climbs 49% YoY to Rs 191 cr

13 Aug 2022 , 03:48 PM

Consolidated profit before tax stood at Rs 238.46 crore in the quarter ended 30 June 2022, registering a growth of 47.8% to Rs 161.36 crore in recorded in the corresponding quarter previous year. Total expenses jumped 28.05% year on year to Rs 5,714.18 crore in Q1 FY23. Cost of materials consumed was at Rs 3405.47 crore (up 44.52% YoY) and employee expenses stood at Rs 645.27 crore (down 1.27% YoY). The company said that both, Indian and European operations performed well, with their revenues from operations increasing 38% and 14% respectively, as compared to the same period last year. Commenting on the companys performance in the first quarter, Onkar Kanwar, chairman of Apollo Tyres said, ?Both, Indian and European Operations have done well during the past quarter and reported strong topline growth, aided by the healthy demand across segments, especially passenger vehicle tyres. Tighter control on costs, enriching of product mix and timely pricing actions across markets helped us tide over the continued spike in raw material prices in Q1.? Meanwhile, the companys board has approved raising Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on a private placement basis in one or more tranches. Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary. Shares of Apollo Tyres were up 0.98% to settle at Rs 235.95 on Friday, 12 August 2022. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.