New Delhi, Nov 13 (UNI) The Apollo Tyres on Tuesday announced that its sales grew by 23 per cent with a net profit of 4 per cent in the second quarter of financial year 2019.

Last year in the second quarter, the net profit of the company was calculated at Rs 140 crore.

The results were released here after the Board of Directors of Apollo Tyres Ltd approved the company’s unaudited financial results for the second quarter (July to September) and half year (April to September) for the financial year 2018-19.

For the quarter ended September 30, 2018, Apollo Tyres Ltd, on a consolidated level, reported a jump of 4 per cent in its net profit at Rs 146 crores, on sales of Rs 4192 crore, which grew by 23 per cent.

Apollo Tyres Chairman Onkar S Kanwar said for the first half of the year, the company posted a profit of Rs 398 crore on sales of Rs 8442 crore.

Company’s Indian Operations (standalone), which reported a 26 per cent jump in its sales, was the dominant contributor to the revenue growth in the second quarter. European Operations revenue was up by 17 per cent in the second quarter.

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