Apollo Tyres slips as Q1 PAT drops 24% YoY to Rs 302 cr

Apollo Tyres declined 1.29% to Rs 514.05 after the company's consolidated net profit slipped 23.91% to Rs 302 crore in Q1 FY25 as against Rs 396.91 crore recorded in Q1 FY24.

Revenue from operations grew by 1.45% to Rs 6,334.85 crore in Q1 FY25 as compared to Rs 6,244.58 crore posted in the same period a year ago.

Indian operations reported a steady growth in revenue, while European operations performed well under challenging conditions and in traditionally, one of their seasonally lower quarters, the company stated in the press release.

Profit before exceptional items and tax stood at Rs 463.66 crore in Q1 FY25, down 21.36% from Rs 589.6 crore posted in Q1 FY24. Exceptional items were at Rs 40.41 crore during the quarter.

EBITDA was at Rs 909.3 crore in the June quarter, registering a decline of 13.51% as against Rs 1,051.5 crore recorded in Q1 FY24. EBITDA margin reduced to 14.4% in the June quarter as compared to 16.8% reported in Q1 FY24.

Onkar Kanwar, chairman, Apollo Tyres, said, The replacement and exports from India have witnessed a good growth, and we expect the same to continue in the coming quarters as well. Europe continues to perform well under current market conditions.

Apollo Tyres principal business activity is manufacturing and sale of automotive tyres.

Powered by Capital Market - Live News