Apollo Tyres net profit skids 17 per cent yoy

The consolidated revenue of Apollo Tyres for the quarter came in at Rs. 4,050 crore, registering 9.4 per cent yoy increase. This was driven by growth in all geographical segment.

EBITDA for the quarter fell by 0.7 per cent yoy to Rs. 496.2 crore with a corresponding margin contraction of 123 bps. EBITDA margin for the quarter stood at 12.3 per cent. This margin contraction was led by increase in raw material cost in proportionate to total sales (46.9 per cent in current quarter as against 40.2 per cent in Q3FY17).

The PAT for the quarter came in at Rs. 245.2 crore, yoy decline of 17.1 per cent. This was due to rise in effective tax rate from 25 per cent in Q3FY17 to ~30 per cent in the quarter.

Apollo Tyre's stock today was trading at negative mark. The stock opened today at Rs. 243 and touched day low of Rs. 229.6. At day's end it is trading at Rs. 247 per share, down by 2.1 per cent.