Apollo Tyres slips after Q4 results

Apollo Tyres fell 1.08% to Rs 169.10 at 15:14 IST on BSE after consolidated net profit rose 9.18% to Rs 307.48 crore on 4.19% decline in total income to Rs 3111.73 crore in Q4 March 2015 over Q4 March 2014.

The result was announced during trading hours today, 12 May 2015.

Meanwhile, the BSE Sensex was down 655.33 points, or 2.38%, to 26,851.97.

On BSE, so far 7.73 lakh shares were traded in the counter, compared with an average volume of 4.31 lakh shares in the past one quarter.

The stock rose 1.93% at the day's high of Rs 174.25 so far during the day. The stock fell 3.13% at the day's low of Rs 165.60 so far during the day.

The stock hit a record high of Rs 249.45 on 3 February 2015. The stock hit a 52-week low of Rs 154.70 on 27 March 2015.

The stock had underperformed the market over the past one month till 11 May 2015, falling 5.26% compared with 4.75% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 4.76% as against Sensex's 3.60% fall.

The mid-cap company has an equity capital of Rs 50.90 crore. Face value per share is Re 1.

On a consolidated basis, Apollo Tyres' net profit fell 2.73% to Rs 977.60 crore on 4.97% decline in total income to Rs 12839.04 crore in the year ended March 2015 over the year ended March 2014.

Meanwhile, Apollo Tyres announced during trading hours today, 12 May 2015, that its board approved appointing Gaurav Kumar as Chief Financial Officer of the company with immediate effect.

Apollo Tyres is in the business of manufacture and sale of tyres since its inception in 1972. The company offers a comprehensive product portfolio spread across passenger car, light truck, truck-bus, off highway and bicycle tyres, retreading material and retreaded tyres.

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