Apollo Tyres on Thursday has reported a consolidated internet revenue of ₹113 crore for the fourth quarter ended March, a year-on-year (y-o-y) decline of 60 per cent as in contrast with ₹287 crore within the corresponding interval final yr.
Nevertheless, income from operations of the corporate grew by 11 per cent y-o-y to ₹5,578 crore throughout the quarter as in opposition to ₹5,025 crore in January-March quarter final yr.
The Board of the corporate in the meantime, really helpful a dividend payout of ₹3.25 per fairness share (325 per cent), to be accredited by the shareholders on the forthcoming annual basic assembly.
“The unprecedented rise in enter prices in fiscal yr 2021-22, have taken a toll on our margins, regardless of our inside price management measures, and a number of rounds of worth corrections undertaken in several product classes,” Onkar Kanwar, Chairman, Apollo Tyres, mentioned. He mentioned the sturdy demand witnessed by its European operations, particularly within the fourth quarter, and the wholesome development in exports out of India, contributed to the rise within the consolidated revenues.
“The silver lining for us, is the latest up-tick in demand in India, particularly within the industrial automobile section,” he added.
For the complete monetary yr, the web revenue elevated by 82 per cent at ₹639 crore, as in opposition to ₹350 crore within the final fiscal. Income from operations was additionally up 20 per cent at ₹20,948 crore, as in opposition to ₹17,397 crore within the earlier monetary yr.
Might 12, 2022