Apollo Tyres Posts Higher Q1 Profit on Price Hikes

APOLLO TYRES LTD reported a 26-fold increase in quarterly profit after tax to 3.49 billion rupees ($36.65 million) through June 30. Revenue rose 12.8% to 73.98 billion rupees as the manufacturer offset surging raw material costs with price hikes. Strong demand from domestic automakers and growth in Middle Eastern and African markets are stabilizing margins despite inflationary pressures.

### Regional Growth and Pricing Power Revenue from the Asia-Pacific, Middle East, and Africa segment climbed 14.5% to 55.29 billion rupees during the quarter. This growth helped mitigate a 24.6% spike in raw material costs, which reached 40.90 billion rupees. The nearly 9% rise in profit before tax and exceptional items reflects the company's ability to pass these costs to consumers.