Apollo Tyres Ltd. suffered a 34 percent drop in sales in the quarter ended June 30, although the company reported a strong recovery throughout the month of June, according to Rubber & Plastic News.
“While the first half of the first quarter was almost a complete washout, our performance has been excellent since the markets opened up, especially in the replacement market,” Apollo Chairman Onkar Kanwar said.
Apollo also reports its European operations results were better than the industry average, despite COVID-related challenges.