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Apollo Tyres Q2 internet revenue growsto ₹174 crore

Apollo Tyres on Friday reported a consolidated internet revenue of ₹174 crore for the second quarter ended September, towards a internet lack of ₹246 crore within the corresponding interval final 12 months.

Consolidated income from operations was up 18 per cent year-on-year (YoY) at ₹5,077 crore in contrast with ₹4,295 crore within the July-September quarter final 12 months.

“Now we have seen a sturdy demand for our merchandise throughout classes and throughout geographies, which is seen within the wholesome income progress, each for the second quarter and within the first half of the fiscal. Among the current additions to our product providing, helps us additional lengthen our management within the business automobile and passenger automobile house in India,” Onkar Kanwar, Chairman, Apollo Tyres, mentioned in a press release.

Europe too, continues to develop, particularly within the passenger automobile class, he mentioned including that the strain on margin entrance continues, because of the rising uncooked materials costs, regardless of taking a number of worth corrections in the previous couple of months.

Shares of Apollo Tyres closed at ₹212.75 apiece on the BSE on Friday, down 0.14 per cent from the earlier shut.

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