Apollo Tyres Q4 net profit down 75.85% at Rs 54.30 cr
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The company reported standalone net profit of Rs 54.30 crore for the quarter ended March 31, 2022 as compared to Rs 224.83 crore in the same period last year, registering a year-on-year decline of 75.85 per cent. Net revenue of the company rose moderately by 12.80 per cent at Rs 3,988.05 crore in January-March quarter of this fiscal as against Rs 3,535.65 crore in the corresponding period last year.
During January-March quarter, operating expenses increased by 17.69 per cent to Rs 3,612.00 crore from Rs 3,068.97 crore in year ago period. Other Income dipped by 31.45 per cent at Rs 38.30 crore versus (Mar'21 Rs 55.87 crore). Operating Profit slipped by 32.92 per cent to Rs 376.05 crore as against Rs 560.60 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 40.54 per cent in March quarter. Interest grew by 26.37 per cent y-o-y to Rs 108.10 crore, while Taxation decreased by 84.16 per cent at Rs 18.18 crore (Mar'21 Rs 114.80 crore).
