Apollo Tyres’s consolidated revenue for nine months (April to December) of FY 17 amounted to Rs 9794 crores (US$14.5bn), while net sales for Q3 (October to December) grew 17% to Rs 3435 crores (US$5bn).
The company experienced good growth in volume in both Indian and European operations in Q3 quarter, led by the passenger vehicle segment.
Onkar S Kanwar, chairman, Apollo Tyres, said, “We have been able to deliver positive numbers in spite of various external factors in the last few months. While uncertainty around GST in India adversely impacted the commercial vehicle segment, the passenger vehicle segment saw good growth. European operations grew both in revenue and volume terms, and that too, faster than the industry. Having said that, the increasing rubber and other raw material prices in the last few months is a challenge for us and the whole industry going forward.”