Apollo Tyres Q3 net seen down 48%, non-radial may hit revenue

Apollo Tyres' third quarter earnings are expected to be weak on February 9. Consolidated profit is likely to decline 47.7 percent year-on-year to to Rs 272 crore and revenue may fall 4.2 percent to Rs 2,974 crore, according to average of estimates of analysts polled by CNBC-TV18. Earnings will be announced on February 9.

Topline may get impacted by slowdown in truck and bus non radial segment. Winter onset in Europe was weak, which is seen impacting European business.

Analysts say Apollo Tyres may have lost market share and pricing power owing to cheap Chinese imports.

Operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 is seen rising 2.9 percent YoY to Rs 505 crore and margin may expand 120 basis points to 16.9 percent due to falling rubber prices.