Home-grown tyre manufacturer Apollo Tyres has resumed operations at its Perambra Plant in Kerala effective from today. The decision was taken following the permission granted by the local authority to operate the plant with effect from May 21, 2021, the company informed BSE in a regulatory filing.
The company added the plant shall resume operations by adhering to the standard operating procedures for industrial units as prescribed by the authorities. Initially, the company planned to shut its operations till May 23, 2021.
Last week, the tyre manufacturer reported a consolidated net profit of INR 289 crore in Q4FY21 on the back of robust demand from domestic and international markets.
The profit jumped four-fold when compared to INR 78 crore in the same period a year ago. In terms of revenue from the operation, the company posted a growth of 39% to close at INR 5,026 crore in Q4FY21, as against INR 3,616 crore in Q4FY20.