The company had reported a consolidated net profit of Rs 78 crore in the January-March quarter of 2019-20.
For 2020-21 fiscal, the tyre major reported a net profit of Rs 958 crore, a two-fold increase, as compared with Rs 476 crore in 2019-20.
Revenue (from Operations) rose by 6 per cent to Rs 17,397 crore, as compared with Rs 16,350 crore in the 2019-20 financial year.
“What started as an extremely challenging year, with lockdowns across geographies, ended on a very healthy note for us with robust revenue growth across market segments and geographies,” Apollo Tyres Chairman Onkar Kanwar said.
Ensuring business continuity along with the safety of employees has been of paramount importance throughout this pandemic, and considering the current situation, especially in India, nobody cannot let the guard down, he added.
Onkar noted that the year ahead is full of challenges, with demand getting impacted due to the lockdowns, and pressure on the margin front, due to the rising raw material prices.
The company’s board has recommended a dividend payout of 350 per cent, to be approved by the shareholders at the forthcoming annual general meeting, later in the year.
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