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Apollo Tyres Posts Strong Q3 Performance, Revenue Grows 23%
Apollo Tyres Ltd reported a strong performance in the third quarter of FY23, with revenue growth of 23% year-on-year to Rs 6,431 crore. The company attributed this growth to strong demand for tyres in the replacement market, as well as higher prices.
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Apollo Tyres to Invest Rs 1,000 Crore in Andhra Pradesh
Apollo Tyres Ltd announced a Rs 1,000 crore investment in Andhra Pradesh to set up a new manufacturing facility. The plant will be located in the Sri City industrial area and will have a capacity of 100,000 tyres per day.
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Apollo Tyres Bags Order for 20,000 Tyres from GAIL
Apollo Tyres Ltd has secured an order for 20,000 tyres from GAIL (India) Ltd. The tyres will be used for the transportation of gas across the country.
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Apollo Tyres Launches New Tyre Range for Electric Vehicles
Apollo Tyres Ltd has launched a new range of tyres specifically designed for electric vehicles. The tyres offer low rolling resistance and high grip, which helps to improve the range and performance of electric vehicles.
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Apollo Tyres Appoints Marco Paracciani as New CEO
Apollo Tyres Ltd has appointed Marco Paracciani as its new Chief Executive Officer (CEO). Paracciani has over 30 years of experience in the tyre industry and has previously held senior positions at Pirelli and Bridgestone.
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Apollo Tyres launches new EV-centric tyre brand – Vredestein Quatrac NV
Apollo Tyres has announced the launch of Vredestein Quatrac NV – a new range of EV-centric tyres developed to cater to the growing demand for electric vehicles. The key highlight of the new Vredestein Quatrac NV tyres is the use of the company’s latest silica compound technology that delivers significant rolling resistance reduction without compromising on performance.
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Apollo Tyres enters into partnership with JK Tyre & Industries for distribution of Vredestein tyres
Apollo Tyres and JK Tyre & Industries have entered into an exclusive distribution partnership for Vredestein tyres in India. The partnership will leverage the extensive distribution network of JK Tyre, one of India’s leading tyre manufacturers, to make Vredestein tyres accessible to a wider customer base across the country.
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Apollo Tyres reports strong financial performance in Q3 FY23
Apollo Tyres has reported a strong financial performance in the third quarter of fiscal year 2022-23 (Q3 FY23). The company’s consolidated revenue grew by 22% year-on-year to Rs. 6,152 crores, while its operating profit increased by 30% to Rs. 1,038 crores.