New Delhi, Nov 7 (PTI) Apollo Tyres on Tuesday reported over two-and-a-half-fold rise in consolidated net profit to Rs 474.26 crore in the September quarter, riding on higher revenue and lower raw material costs.

The company had posted a consolidated net profit of Rs 179.39 crore in the same period last fiscal, Apollo Tyres said in a regulatory filing.

Also Read | CAT 2023 Exam Admit Card Out at iimcat.ac.in: Hall Ticket for Common Eligibility Test Examination Released, Know Steps To Download.

Consolidated revenue from operations during the quarter under review stood at Rs 6,279.67 crore as against Rs 5,956.05 crore in the year-ago period, it added.

The company said the cost of materials consumed was lower at Rs 2,634.92 crore in the second quarter of the ongoing fiscal as against Rs 3,101.56 crore in the year-ago period.

Also Read | Intelligence Bureau Recruitment 2023: Apply Online for 677 Posts at mha.gov.in, Know Eligibility, Selection Process, and Other Details.

Total expenses were also lower at Rs 6,612.81 crore as against Rs 5,724.66 crore a year ago, it added.

"Our operations have experienced positive revenue growth, and we are witnessing encouraging signs, particularly from India, indicating further demand improvement in the future," Apollo Tyres Chairman Onkar Kanwar said.

"We remain steadfast in our commitment to achieving profitable growth, aligned with our long-term vision," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)