Apollo Tyres quarterly profit triples on tax boost
Apollo Tyres reported a consolidated profit of 6.31 billion rupees for the March quarter, aided by a one-time deferred tax gain of 5.7 billion rupees. Revenue grew to 73.36 billion rupees as steady demand offset restructuring costs related to its manufacturing plant in the Netherlands.
APOLLO TYRES LTD more than tripled its quarterly profit to 6.31 billion rupees ($65.89 million) following a substantial tax gain. Revenue rose to 73.36 billion rupees as steady demand in core markets offset restructuring costs in Europe. The results highlight a transition toward a more favorable tax regime in India despite ongoing operational headwinds in the West.
### Tax Gains Offset Restructuring Costs Apollo Tyres adopted a concessional tax regime in India, resulting in a one-time deferred tax gain of 5.7 billion rupees. This accounting boost helped the firm overcome 4.56 billion rupees in charges related to restructuring and impairment. These expenses include costs tied to the planned closure of a manufacturing plant in the Netherlands.
