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- APOLLO TYRES Announces Quarterly Results (2QFY21); Net Profit Up 140.8%
APOLLO TYRES Announces Quarterly Results (2QFY21); Net Profit Up 140.8%
Fri, 6 Nov
APOLLO TYRES has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:
APOLLO TYRES Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-19* | 3 Jun-20* | 3 Sep-20* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 39,858 | 28,734 | 42,827 | 49.0% | 7.4% |
| Other income | Rs m | 40 | 268 | 385 | 43.2% | 860.1% |
| Turnover | Rs m | 39,898 | 29,003 | 43,211 | 49.0% | 8.3% |
| Expenses | Rs m | 35,538 | 26,362 | 35,879 | 36.1% | 1.0% |
| Gross profit | Rs m | 4,320 | 2,373 | 6,888 | 190.3% | 59.4% |
| Depreciation | Rs m | 2,742 | 3,091 | 3,308 | 7.0% | 20.7% |
| Interest | Rs m | 640 | 1,172 | 1,167 | -0.4% | 82.4% |
| Profit before tax | Rs m | 979 | -1,622 | 2,797 | 185.9% | |
| Tax | Rs m | 148 | -276 | 798 | 438.9% | |
| Profit after tax | Rs m | 831 | -1,346 | 2,000 | 140.8% | |
| Gross profit margin | % | 10.8 | 8.3 | 16.1 | ||
| Effective tax rate | % | 15.1 | 17.0 | 28.5 | ||
| Net profit margin | % | 2.1 | -4.6 | 4.6 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 7.4% on a year-on-year (YoY) basis. The expenses were up by 1.0% YoY during the same period.
- The company's operating profit increased by 59.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY21 as against 10.8% in 2QFY20.
- Depreciation charges increased by 20.7% and finance costs increased by 82.4% YoY, respectively.
- Other income increased by 860.1% YoY during the quarter.
- Net profit for the quarter increased by 140.8% YoY. Net profit margins during the quarter increased from 2.1% in 2QFY20 to 4.6% in 2QFY21.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 49.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.1% QoQ during the same period.
- The company's operating profit increased by 190.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY21 as against 8.3% in 1QFY20.
- Net profit for the quarter increased by 248.6% QoQ, while net profit margins increased from -4.6% in 1QFY20 to 4.6% in 2QFY21.
To see how APOLLO TYRES has performed over the last eight quarters,please visit here.
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APOLLO TYRES Share Price Performance
Over the last one year, APOLLO TYRES share price has moved down from Rs 168.6 to Rs 155.5, registering a Loss of Rs 13.1 or around 7.7%.
Overall, the S&P BSE SENSEX is up 3.6% over the year.
Current Valuations
At the current price of Rs 155.5, the price to earnings (P/E) ratio of APOLLO TYRES stands at 25.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.
Related Views on News
APOLLO TYRES Announces Quarterly Results (3QFY21); Net Profit Up 155.2% (Quarterly Result Update)
Feb 5, 2021 | Updated on Feb 5, 2021For the quarter ended December 2020, APOLLO TYRES has posted a net profit of Rs 4 bn (up 155.2% YoY). Sales on the other hand came in at Rs 52 bn (up 17.1% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.
APOLLO TYRES Announces Quarterly Results (1QFY21); Net Profit Down 195.1% (Quarterly Result Update)
Aug 20, 2020 | Updated on Aug 20, 2020For the quarter ended June 2020, APOLLO TYRES has posted a net profit of Rs 1 bn (down 195.1% YoY). Sales on the other hand came in at Rs 29 bn (down 33.7% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.
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