Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. Explore Company Solutions.

Apollo Tyres Profit Increases 49% YoY in Q1 2022

  • Apollo Tyres reported a 49% increase in consolidated net profit in Q1 2022
  • The Indian and European operations of the company reported an increase in revenue in the first quarter of 2022
  • Share price of Apollo Tyres increased 6% to touch a new 52-week high

Overview of Apollo Tyres’ Revenue Growth

Apollo Tyres Ltd (Apollo Tyres) is a manufacturer and seller of tyres, tubes and flaps. It also provides retreading material, retreading tyres, and alloy wheels. The India operations performed admirably, and the company has a strong presence in the tyre market with products for two-wheelers, cars, commercial vehicles, and off-highway vehicles.

Apollo Boasts Strong Revenue Growth

Apollo Tyres Ltd reported a 49.21% increase in consolidated net profit at INR1906.8 million for the June quarter of 2022 on higher sales. The company’s revenue from operations for the April-June quarter of 2022 stood at INR59,420.02 million, which increased 29.6% from INR45,844.71 million in the corresponding period last year. The increase in revenue was reported by the Indian and European operations in Q1 2022 due to strong demand across all sectors, particularly for passenger vehicle tyres.

Shares of Apollo Tyres climbed 6% to touch a new 52-week high after the company announced its June quarter earnings, which were better than expected. The stock was supported by expectations of continued growth in volume and strong margin trends.

Operating Costs of Apollo Tyres

From the last December quarter, operating costs of Apollo Tyres declined 93.02%. A relatively low ratio would be considered a good sign as the company’s expenses are less than its revenue. During the April-June 2022 quarter, total expenses increased 28.08% to INR57,141.8 million the cost of materials consumed was INR34,054.7million, a jump of 44.5% YoY, and employee expenses decreased 1.2% to INR6,452.7 million. According to the chairman of Apollo Tyres, the company was able to survive the increase in raw material prices in Q1 2022 due to tighter cost control, an enriched product mix, and timely pricing actions across markets.

 

Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. Explore Company Solutions. Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. Explore Company Solutions. Explore Company Solutions
Still looking?

Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.

Explorer

Access more premium companies when you subscribe to Explorer

Start of HubSpot Embed Code End of HubSpot Embed Code