Quarterly Results: Apollo Tyres Ltd
Bhagyashree Vivarekar / 09 Nov 2016
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Apollo Tyres Ltd., is currently trading at Rs. 191.5, down by 6.2 points or 3.14% from its earlier closing of Rs. 197.7 on the BSE.The company's net profit has surged by 4.9% against adjust PAT of Q2FY16 to Rs 260.04 cr.
Technical View:
Apollo Tyres Ltd., is currently trading at Rs. 191.5, down by 6.2 points or 3.14% from its earlier closing of Rs. 197.7 on the BSE.
The scrip has touched a high and low of Rs. 193.6 and Rs. 178.1 respectively, after opening at 189. Altogether 3980339(NSE+BSE) shares were traded on the counter; and the stock is currently trading above its 50 DMA.
Consolidated Results Q2FY17.
Apollo Tyres Ltd’s Q2FY17 consolidated numbers have beaten Bloomberg estimates. Revenue for the period has come in 9% higher than the estimate of Rs 3,040 cr. Reported net profit for the period has come in 2.2% higher than the estimate of Rs 255 cr.
The quarter's revenue has surged by 1.3% yoy to 3,312.27 cr.
Apollo's EBITDA has dipped by 9.9% yoy to Rs 438.35 cr while EBITDA margins have shrunken 164 bps yoy to 13.2%. This was majorly triggered by 14.5% yoy surge in other expenditure and 9% yoy rise in employee benefit expenses.
The company's net profit has surged by 4.9% against adjust PAT of Q2FY16 to Rs 260.04 cr. This was due to 160.7% rise in other income.
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