Apollo Tyres reports revenue, profitability growth for FY 2020/21
Apollo Tyres has recorded strong growth in the fourth quarter of its 2020/21 financial year (April 2020 to March 2021). Consolidated revenues from global operations grew 39 per cent to close at 50.26 billion rupees (£486 million – all conversions based on rates on 14 May) in quarter four. For the full year of FY21, it grew 6 per cent to close at 173.97 billion rupees (£1.68 billion). Apollo reports that operating profit (EBITDA excluding other income) was up 70 per cent in Q4, while for the full year, it was up 44 per cent.