Apollo Tyres on Tuesday reported a 7.36 per cent decline in its consolidated net profit to Rs 77.8 crore for the fourth quarter ended March 31, 2020.
The company had posted a net profit of Rs 83.99 crore for the January-March period of 2018-19.
Total income of the company declined to Rs 3,607.74 crore for the fourth quarter as compared with Rs 4,322.24 crore in the same period of 2018-19, Apollo Tyres said in a statement.
"Along with the demand in the replacement market, we saw some improvement in demand from OEs as well in the fourth quarter, before the widespread disruption caused by COVID-19 put us all in an uncharted territory," Apollo Tyres Chairman Onkar S Kanwar said.
He further said: "Our teams across geographies have shown great resilience and adaptability in this difficult situation; various actions have been taken at our operations around the world to protect our people and to ensure business continuity under these circumstances."
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