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Apollo Tyres: Profit margins face challenge

Bigger blip was 36 basis points yearly decline in operating margins at 16%

Apollo Tyres: Profit margins may remain benign

Despite poor performance in the March quarter (Q4) results, announced after market hours on Wednesday, the stock of Apollo Tyres managed to gain 3.6 per cent in Thursday’s trading. The run-up came mainly because of positive management commentary. At Rs 2,966 crore, net revenue declined by five per cent year-on-year, while net profit, at Rs 245 crore, plunged 20 per cent. Both were significantly lower than Bloomberg estimates of Rs 3,058 crore and Rs 284 crore, respectively. The bigger blip was the 36 basis points year-on-year decline in operating margins at 16 per cent, compared ...