Apollo Tyres Q1 PAT may dip 45.2% YoY to Rs. 70 cr: ICICI Direct

Apollo Tyres | Board approved issue of NCDs on private placement basis aggregating to Rs 1,000 crore. (Image: corporate.apollotyres.com)

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ICICI Direct has come out with its first quarter (April-June’ 22) earnings estimates for the Auto & Auto Ancillary sector. The brokerage house expects Apollo Tyres to report net profit at Rs. 70 crore down 45.2% year-on-year (down 38.3% quarter-on-quarter).

Net Sales are expected to increase by 17.6 percent Y-o-Y (down 3.4 percent Q-o-Q) to Rs. 5,390 crore, according to ICICI Direct.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 5.1 percent Y-o-Y (down 14.1 percent Q-o-Q) to Rs. 538 crore.

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