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APOLLO TYRES Announces Quarterly Results (3QFY19); Net Profit Down 19.3%

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APOLLO TYRES Announces Quarterly Results (3QFY19); Net Profit Down 19.3%
Wed, 13 Feb

APOLLO TYRES has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

APOLLO TYRES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m40,15542,57447,18310.8%17.5%
Other incomeRs m809123332169.6%-59.0%
TurnoverRs m40,96442,69747,51411.3%16.0%
ExpensesRs m35,53737,90241,91010.6%17.9%
Gross profitRs m4,6194,2724,6739.4%1.2%
DepreciationRs m1,5141,9622,0112.5%32.8%
InterestRs m4104614855.3%18.3%
Profit before taxRs m3,5031,9722,50827.2%-28.4%
TaxRs m1,0505125293.4%-49.6%
Profit after taxRs m2,4531,4601,97935.5%-19.3%
Gross profit margin%11.510.09.9
Effective tax rate%30.026.021.1
Net profit margin%6.03.44.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 17.5% on a year-on-year (YoY) basis. The expenses were up by 17.9% YoY during the same period.
  • The company's operating profit increased by 1.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.9% in 3QFY19 as against 11.5% in 3QFY18.
  • Depreciation charges increased by 32.8% and finance costs increased by 18.3% YoY, respectively.
  • Other income declined by 59.0% YoY during the quarter.
  • Net profit for the quarter declined by 19.3% YoY. Net profit margins during the quarter declined from 6.0% in 3QFY18 to 4.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.6% QoQ during the same period.
  • The company's operating profit declined by 9.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.9% in 3QFY19 as against 10.0% in 2QFY18.
  • Net profit for the quarter increased by 35.5% QoQ, while net profit margins increased from 3.4% in 2QFY18 to 4.2% in 3QFY19.

To see how APOLLO TYRES has performed over the last eight quarters, please visit here.

APOLLO TYRES Share Price Performance

Over the last one year, APOLLO TYRES share price has moved up from Rs 275.0 to Rs 201.7, registering a Loss of Rs 73.3 or around 26.7%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 201.7, the price to earnings (P/E) ratio of APOLLO TYRES stands at 12.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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Related Views on News

APOLLO TYRES Announces Quarterly Results (2QFY19); Net Profit Up 4.2% (Quarterly Result Update)

Nov 14, 2018 | Updated on Nov 14, 2018

For the quarter ended September 2018, APOLLO TYRES has posted a net profit of Rs 1 bn (up 4.2% YoY). Sales on the other hand came in at Rs 43 bn (up 24.6% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.

APOLLO TYRES Announces Quarterly Results (1QFY19); Net Profit Up 185.2% (Quarterly Result Update)

Aug 3, 2018 | Updated on Aug 3, 2018

For the quarter ended June 2018, APOLLO TYRES has posted a net profit of Rs 3 bn (up 185.2% YoY). Sales on the other hand came in at Rs 43 bn (up 21.2% YoY). Read on for a complete analysis of APOLLO TYRES's quarterly results.

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