<p>Consolidated revenues from operations across geographies for the full year FY24 grew 3% to close at INR 25,378 crores, whereas, for the 4th quarter, they were at INR 6,258 crores.</p>
Consolidated revenues from operations throughout geographies for the complete 12 months FY24 grew 3% to shut at INR 25,378 crores, whereas, for the 4th quarter, they had been at INR 6,258 crores.

New Delhi: The Board of Administrators of Apollo Tyres Ltd Tuesday permitted the corporate’s audited monetary outcomes for the fourth quarter (January to March) and the monetary 12 months 2023 – 24. The Board beneficial a dividend payout of INR 6 per fairness share (600%), on face worth of Re 1 every for FY24, topic to the approval of the shareholders on the forthcoming Annual Common Assembly.

Consolidated revenues from operations throughout geographies for the complete 12 months FY24 grew 3% to shut at INR 25,378 crores, whereas, for the 4th quarter, they had been at INR 6,258 crores. Each Indian Operations and European Operations’ income grew in single digits for the complete 12 months and within the 4th quarter.

FY24 (April-March) vs. FY23: Income from operations was up 3% to shut at INR 25,378 crore as in opposition to INR 24,568 crore in FY23. Working revenue was up 34% at INR 4,447 crore, as in opposition to INR 3,314 crore. Internet revenue was up 65% to shut at INR1,722 crore, as in opposition to INR1,046 crore in the identical interval final fiscal

This autumn FY24 (January-March) vs. This autumn FY23: Income from operations closed at INR 6,258 crore, as in opposition to INR 6,247 crore in This autumn FY23. Working revenue reported was INR1,028 crore as in opposition to INR 998 crore. Internet revenue for This autumn closed at INR 354 crore, as in opposition to INR 410 crore in the identical interval final fiscal.

Onkar Kanwar, Chairman, Apollo Tyres Ltd, stated, “Our efficiency prior to now fiscal displays our technique of worthwhile development. Our efficiency in Europe has been a lot better than the general market, with market share beneficial properties throughout product classes. Going ahead too, the demand state of affairs is trying good for various product segments throughout our key geographies. As per the Govt’s mandate, we’ve provisioned for the Prolonged Producer Duty (EPR), which has barely impacted our profitability.”

At its assembly the Board famous the need of Satish Sharma, President, APMEA (Asia Pacific, Center East, and Africa) to hunt early retirement from the corporate and accepted his consequent resignation as Wholetime Director from the Board. Onkar Kanwar stated “Satish has been expressing his want to step again from energetic company life and give attention to his different pursuits. I, together with all at Apollo, want to thank Satish for his 27 years of service and his important contributions in constructing Apollo to its current place. We want him the easiest in his future endeavours.”

The Board permitted the appointment of Gaurav Kumar, Chief Monetary Officer of the corporate, because the Wholetime Director from June 1, 2024, topic to the approval of shareholders. Welcoming the nomination, Onkar Kanwar commented on Gaurav’s insightful skills to carry the monetary influence of choices to the forefront and expressed confidence that his presence on the Board would additional strengthen the monetary lens of the Board on all strategic choices.

Pallavi Shroff, Impartial Director, stepped down from the Board on completion of her most two phrases of service. In his vote of thanks Onkar Kawar famous her lengthy affiliation with the corporate and her clever counsel and recommendation on key issues through the years.

The Board additionally permitted the nominations of Berjis Desai and Sumit Dayal to the Board of Administrators with impact from August 6, 2024, topic to Shareholders approval on the forthcoming Annual Common Assembly of the corporate. Desai retired as Senior Companion, J. Sagar Associates, one among India’s main legislation corporations, after 43 years.

  • Revealed On Could 14, 2024 at 08:38 PM IST

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