Apollo registers strong growth in annual sales, profits

Kerala, India – Indian tire maker Apollo Tyres Ltd has posted double-digit increases in sales and operating profit for the fiscal year ending March 2019.

Net sales grew 18% year-on-year to Rs172 billion (€2.134 billion) for the year, the company reported 9 May.

Apollo attributed the gains to a “strong performance” in the commercial vehicle segment, especially truck radials in India, and passenger car tires in Europe.

Overall, India contributed to 66% of total revenue while Europe represented 30%. The remainder was attributed to ‘other geographies’.

Operating profit also…

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