Apollo Tyres Ltd.'s net profit fell 32% in the third quarter of fiscal 2025, missing analysts' estimates.
The tyre maker posted a profit of Rs 337.2 crore in the quarter ended Dec. 31, 2024, as compared to Rs 496.6 crore in the same period last year, according to an exchange filing on Thursday. This compares to estimate of Rs 421 crore, tracked by Bloomberg.
Apollo Tyres Q3 Highlights (Consolidated, YoY)
Revenue up 5% to Rs 6,927.9 crore versus Rs 6,595.30 crore (Bloomberg estimate at Rs 6,895 crore)
Ebitda down 22% to Rs 946.9 crore versus Rs 1,208 crore (Estimate: Rs 1,040 crore)
Margin narrows to 13.7% versus 18.3% (Estimate: 15.10%)
Net profit down 32% to Rs 337.2 crore versus Rs 496.6 crore (Estimate at Rs 421 crore)
The company will take the shareholders' approval for reappointing Francesco Crispino as an independent director for a second term of five years, effective from July 3, 2025. It also appointed Parmeshwaran Iyer as the chief supply chain officer, a senior management personnel of the company, with immediate effect.
Shares of Apollo Tyres closed 0.88% lower at 416.40 apiece on the National Stock Exchange, compared to a 0.39% fall in the benchmark Nifty. The stock has declined 24.70% in the last 12 months.
Out of the 28 analysts tracking the company, 18 maintain a 'buy' rating on the stock, four recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 26.3%.
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