Apollo Tyres Q1: Net Profit Rs 12.8 Cr

New Delhi, Aug 7 (PTI) Apollo Tyres on Thursday posted a consolidated net profit of Rs 12.8 crore for the June quarter on one-time expense of Rs 368.5 crore for the restructuring process.

The tyremaker reported a net profit of Rs 302 crore in the June quarter of last fiscal. Without exceptional item, the company said its net profit stood at Rs 381 crore.

Revenue from operations in the quarter rose to Rs 6,561 crore as compared with Rs 6,335 crore in the year-ago period, Apollo Tyres said in a statement.

Indian operations reported a steady growth in revenue, while European operations performed well under challenging conditions and in traditionally, one of their seasonally lower quarters, it added.

"This quarter's results reflect solid execution and a focus on profitable growth. It's encouraging to see Indian operations performing in line with expectations -- driven particularly by strong momentum in the aftermarket segment," Apollo Tyres Chairman Onkar Kanwar said.

The results underscore the resilience of the company's business model and ability to create long-term value for shareholders, he added.

Shares of the tyremaker ended marginally up at Rs 435.95 apiece on BSE.