Apollo Tyres hit a 52-high of Rs 303.40 on Monday on the BSE
after the company’s earnings beat market expectations on all the parameters.
The company's net profit rose by 11.9 percent to Rs 194.45
crore in the September quarter, higher than analysts' expectations of Rs 159 crore, riding on lower costs and higher revenue across geographies.
For the June quarter, the company reported a net profit of Rs 190 crore.
Apollo Tyres' revenue rose by 17.3 percent to Rs 5,956 crore in the September quarter, higher than market expectations of Rs 5,749 crore.
EBITDA also grew by 11.6 percent to Rs 712 crore, higher than the market expectation of Rs 654 crore.
Apollo Tyres' operating margins were up at 12 percent compared to 12.6 percent in the year-ago quarter.
The company's revenue from the Asia Pacific, Middle East, and Africa (APMEA) region rose to Rs 4,282 crore in the September quarter compared to Rs 3,694 crore in the same period a year ago.
In Europe, the company reported a revenue of Rs 1,761 crore in the September quarter compared to Rs 1,480 crore in the year-ago quarter.
The stock is currently trading at Rs 297.70, up 4.33 percent.
(Edited by : Rukmani Krishna)
First Published: Nov 15, 2022 10:51 AM IST
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