Consolidated pre-tax profit before exceptional items was 7.36 billion rupees (around $89 mln) in the quarter ended Dec. 31, compared with 4.24 billion rupees a year earlier.

The overall profit included a exceptional charge of 151 million rupees for an employee re-organization exercise.

While the results largely mirror those of CEAT and JK Tyre, it was unclear if Apollo had also hiked prices, like its peers, to offset higher rubber costs and the slowdown in passenger and commercial vehicle sales.

Analysts have said that Apollo likely benefitted from strong demand for sport utility vehicles (SUVs), where it is the market leader, and from increased sales of tyres for heavier trucks and buses.

Meanwhile, revenue grew merely 2.7%, marking its weakest increase since June 2020.

Revenue in the Asia Pacific, Middle East and Africa segment, Apollo's largest, increased 2.9%, while it rose 6.1% in Europe, where it sells the 'Vredestein' brand premium tyres.

($1 = 82.9580 Indian rupees)

($1 = 82.9760 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)