KOCHI, NOV 13:The Board of Directors of Apollo Tyres Ltd on Wednesday approved the company’s unaudited financial results for the 2nd quarter (July to Sept) and H1 (Apr to Sept) for the financial year 2024–25.

For the quarter ended September 30, 2024, Apollo Tyres Ltd, on a consolidated level, registered a revenue of Rs 6437 crores, an increase of 3% over the same period last fiscal.

For the six months of the fiscal (April–September), the company reported a revenue of Rs 12,772 crores, an increase of 2% over the same period last fiscal. Positive revenue growth was reported, especially from European operations, in the second quarter.

Revenue from operations was up 3% to close at Rs 6437 crores, as against Rs 6280 crores in Q2 FY24. Operating profit reported was Rs 878 crores, as against Rs 1160 crores. Net profit for Q2 closed at Rs 297 crores, as against Rs 474 crores in the same period last fiscal, a release said.

Revenue from operations was up 2% to close at Rs 12,772 crores, as against Rs 12,524 crores in H1 FY24.

Operating profit reported was Rs 1787 crore, as against Rs 2211 crore.

Net profit closed at Rs 599 crores, as against Rs 871 crores in the same period last fiscal.

Commenting on the company’s performance, Onkar Kanwar, Chairman, Apollo Tyres Ltd, said, “We witnessed a weak demand scenario in the OEM segment in our largest market, India, which negated the strong growth in the replacement segment.”

In Europe, we witnessed positive revenue growth in the passenger vehicle segment, which is the largest segment for us in that geography. Unprecedented increases in raw material prices have impacted our profitability.”