Apollo Tyres reports strong bottom-line growth in Q1FY19
Apollo Tyres reported strong growth for Q1FY19 on the back of strong top-line aided by superior sales in the Asia Pacific and MEA segment.
The company's total revenue for the quarter rose by 21 per cet yoy and 6.7 per cent qoq to Rs. 4,249 crore in Q1FY19 vs Rs. 3,513 crore in Q1FY18 and Rs. 3,982 crore in the previous quarter.
The EBITDA for the quarter rose by 95 per cent yoy to Rs. 489 crore in Q1FY19 vs Rs. 250 crore in the same quarter the previous year. The EBITDA margins for the quarter also expanded by 440 bps to 11.5 per cent vs 7.1 per cent in the same period the previous year.
The net profit for the quarter more than doubled to Rs. 252 crore in Q1FY19 vs Rs. 88 crore in the same quarter the previous year. This was largely due to lower finance costs which almost halved to Rs. 43 crore in Q1FY19 vs Rs. 94 crore in the corresponding quarter.
On Wednesday, the stock closed at Rs.292 mark flat.