Apollo Tyres Q2: Profit rises 13.3% to ₹292 crore but EBITDA margin contracts
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Apollo Tyres reported a 13.3% rise in net profit to ₹292.2 crore for the second quarter.
- ✓While revenue grew to ₹7,968.1 crore, EBITDA margins fell to 10.7%.
- ✓The firm also appointed Ravi Kumar Shingari as CFO starting November 4 and plans to raise ₹1,000 crore through non-convertible debentures for future growth.
Story at a Glance
- Category
- MARKET
- Reported By
- cnbctv18
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Apollo Tyres posted higher net profit alongside steady revenue growth, even as margin pressures pinched core operating profitability. Alongside appointing a new finance chief, the firm plans to raise capital through debt instruments. Discover how management intends to deploy these funds to protect margins.
Tyre manufacturing company Apollo Tyres reported a 13.3% year-on-year increase in net profit to ₹292.2 crore for the second quarter, compared with ₹258 crore in the corresponding quarter last year. Revenue from operations grew 16.6% to ₹7,968.1 crore from ₹6,831 crore in Q2 of the previous financial year.
However, operating performance remained under pressure, with EBITDA declining 16.2% year-on-year to ₹855 crore from ₹1,020 crore. EBITDA margin contracted to 10.7% from 14.9% in the year-ago quarter.
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