Apollo Tyres profit rises 40 pc to Rs 471 cr in Q3

New Delhi, Feb 4 (PTI) Apollo Tyres on Wednesday posted a 40 per cent year-on-year increase in profit to Rs 471 crore for the December quarter, aided by robust sales in domestic and export markets.

The company reported a net profit of Rs 337 crore in the October-December period of the last fiscal year.

Revenue from operations rose to Rs 7,743 crore for the third quarter, as against Rs 6,928 crore in the year-ago period, Apollo Tyres said in a statement.

"India recorded its best quarterly performance to date, driven by strong growth across replacement, exports and OEM channels," Apollo Tyres Chairman Onkar Kanwar said in a statement.

"Our European operations also performed in line with the broader market. Encouragingly, demand momentum remains healthy, and we expect this trajectory to sustain going forward," he added.

The company said its board has approved to invest Rs 5,810 crore to expand production capacity at its Andhra Pradesh-based plant for passenger car radial and truck bus radial tyres.

The tyre maker plans to enhance truck bus radial tyre capacity by 3.7 million tyres and passenger car radial tyres by 1.3 million units per annum.

This investment will be funded by a mix of internal accruals and debt, it added.

The tyre maker said its board has also declared an interim dividend of Rs 3.5 per share of Re 1 each for FY26.

Apollo Tyres shares ended 1.48 per cent up at Rs 512.40 apiece on BSE on Wednesday. PTI MSS TRB