Revenue from operations during the period under review stood at Rs 5,942 crore as against Rs 4,584.47 crore in the year-ago quarter, Apollo Tyres said in a regulatory filing.
Total expenses were higher at Rs 5,714.17 crore as against Rs 4,462.63 crore in the corresponding quarter last fiscal year. Cost of materials consumed was higher at Rs 3,405.46 crore as compared to Rs 2,356.33 crore earlier.
“Tighter control on costs, enrichment of product mix and timely pricing actions across markets helped us tide over the continued spike in raw material prices in Q1,” Apollo Tyres Chairman Onkar Kanwar said.
Both Indian and European operations did well in the first quarter and reported strong topline growth, aided by healthy demand across segments, especially passenger vehicle tyres, he added.