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Apollo Tyres reports 6% y/y revenue growth in FY 2021 to USD2.3 billion

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Financial results

Net profit declines 26% y/y to USD47.7 million

Indian tiremaker Apollo Tyres has reported a 6% year-on-year (y/y) increase in consolidated revenue from operations to INR174 billion (USD2.3 billion) for the fiscal year ended 31 March 2021, according to a company press release on 12 May. The company’s profit before taxes, however, declined 3% y/y to INR5.6 billion, and net profit for the fiscal year declined 26% y/y to INR3.5 billion.

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