Apollo Tyres' Q1 consolidated net profit dips 44% to Rs 142 crore

The company's total income rose marginally to Rs 4,358.78 cr during April-June 2019 as compared with Rs 4,328.6 cr in the year-ago period

Apollo Tyres on Wednesday reported 43.77 per cent dip in consolidated net profit at Rs 141.6 crore for the June quarter of 2019-20.

The company had posted a net profit of Rs 251.84 crore for the same period of previous fiscal.

Total income rose marginally to Rs 4,358.78 crore during April-June 2019 as compared with Rs 4,328.6 crore in the year-ago period, Apollo Tyres said in a statement.

"While the demand from automakers remained subdued, there was growth in the replacement market segment," Apollo Tyres Chairman Onkar S Kanwar said.

"Moving ahead, I am hopeful of the markets recovering and the sales bouncing back