Apollo Tyres Q4 PAT declines 60% YoY to Rs 113 cr

13 May 2022 , 09:47 AM

Net sales grew 11% to Rs 5,578.32 crore in Q4 FY22 from Rs 5,025.70 crore posted in Q4 FY21. Profit before tax declined 62.17% to Rs 160.19 crore in Q4 FY22 as against Rs 423.40 crore recorded in the same quarter last year. Total expense rose 17.6% year on year to Rs 4,952.02 in the quarter ended 31 March 2022. Cost of raw materials stood at Rs 3,110.72, rising by 29.5% year on year during the period under review. On full year basis, the company reported 82.3% rise in net profit to Rs 638.60 crore on 20.4% increase in net sales to Rs 20,947.58 crore in the financial year ended 31 March 2022 over the financial year ended 31 March 2021. The board recommended a final dividend of Rs 3.25 per equity share for the financial year ended 31 March 2022. Further, the board considered seeking shareholders approval in the ensuing AGM for private placement of non-convertible debentures not exceeding Rs 1000 crore within overall borrowing limits of the company. Apollo Tyres is an international tyre major with manufacturing units in India, the Netherlands and Hungary. Shares of Apollo Tyres were up 0.72% at Rs 197.15 on the BSE. Powered by Capital Market – Live News