Profitability remains the key in uncertain environment Replacement demand drives Q1 numbers Apollo's standalone net sales slowed down to 1% yoy and 2.7% qoq growth at 30.4 bn. The negative OEM growth was more or less offset by a strong replacement growth both in India and Europe. Truck volume in Replacement grew by 25% yoy, PCR moved up by 12%, while 2W volumes zoomed by ~30% in the quarter leading to a good growth in market share and topline, in...