Apollo Tyres global revenue reaches EUR 1.3 bln
Indian tire maker Apollo Tyres’ global consolidated revenue for the nine months (April to December) of its financial year closed at EUR 1.3 billion, while net sales for Q3 grew 17% to close at EUR 471 million, according to a press statement sent to the Budapest Business Journal today.
According to the same report, once the plant at Gyöngyöshalász (about 80 km northeast of Budapest) is ready, Apollo expects the Hungarian operation to boost global performance with its capacity to produce 5.5 million passenger car and light truck tires, and 675,000 heavy commercial vehicle tires per annum, giving job opportunities to hundreds of people in the region.
The company said it witnessed good volume growth in both its Indian and European operations in Q3, led by the passenger vehicle segment, although it added that rising rubber prices will be a concern going forward.
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