 "Apollo strives to build brands")
Apollo Tyres posted a better-than-expected performance in the September quarter (Q2) led by strong volume growth across segments and margin gains. In addition to double-digit growth in the replacement market, recovery in demand from auto makers (OEMs) and market share gains helped the company post an eight per cent year-on-year (YoY) growth in revenues. Revenue growth in Q1 was down 34 per cent YoY.
In the India market (68 per cent of consolidated revenues), its replacement volumes in truck, bus and passenger vehicles were its highest ever for September. Tyre volumes for heavy vehicles were subdued earlier due to the change
