"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.
"While the uncertainty will continue, and we will have to find opportunities for growth, I am hopeful of the markets further recovering and the sales bouncing back around the festive season in India," Apollo Tyres
Chairman Onkar S Kanwar said.
In Europe, the company is performing better than the industry, which is likely to continue going forward as well, Kanwar noted.
"The teams across geographies have shown tremendous resilience amidst the pandemic and have adapted to the new normal for business continuity," he added.