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…