Investors ignore Apollo Tyres' strong operating performance on bleak global auto sector outlook
Click here to read full article from source
New Delhi, May 20 -- Apollo Tyres Ltd staged a decent operating performance for the March quarter (Q4FY20) in spite of covid-19 led challenges across its Indian and European operations. But, this did little to lift investor confidence. The stock trended lower as the management forecast a bleak near-term outlook across regions, in its analysts' call.
Q4's consolidated earnings before interest, tax, depreciation and amortisation(ebitda) margin at 13.2% zoomed 322 basis points (bps) year-on-year (yoy). One basis point is one hundredth of a percentage point. It even shot past Bloomberg's consensus estimate of 9.8%.
However, this was mainly on the back of stringent cost control efforts in staff and promotional expenses. Of course, lower rubb...
To read the full article or to get the complete feed from this publication, please Contact Us