InvestorQ : Why are Apollo Tyres profits lower in the Mar-20 quarter?
Dia Deshpande made post

Why are Apollo Tyres profits lower in the Mar-20 quarter?

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Anu Biswas answered.
11 months ago
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Apollo Tyres reported 7.2% fall in net profit to Rs.77.80 crore for the Mar-20 quarter due to subdued demand for its products in India and in the European markets. Operating revenues also fell by 15.5% to Rs.3610 crore. Most vehicle manufacturers and component suppliers had to shut factories from 22 March following the lockdown. This applied to Apollo also. With lockdowns easing it is hoped that demand would pick up gradually.

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