Apollo Tyres shares in news today on 24% fall in Q1 net profit

Shares of Apollo Tyres are in news on Thursday after the firm said its net profit fell 24% in Q1. Net profit came at Rs 302 crore in the first quarter of FY25 against Rs 397 crore in the corresponding period of the previous fiscal. The tyre maker recorded a net profit of Rs 354 crore in the March quarter.

Apollo Tyres shares ended at Rs 520.75 on Wednesday on BSE. Market cap of the firm stood at Rs 32,707 crore.

Shares of Apollo Tyres hit a record high of Rs 567.90 on July 30, 2024 and a fell to a 52 week low of Rs 365.50 on September 28, 2023. 

Apollo Tyres stock has surged 12.34% this year and rallied 121% in two years. 

Revenue from operations climbed marginally to Rs 6334.8 crore in the last quarter from Rs 6,244.5 crore in the year-ago period. The firm reported a revenue of Rs 6258.2 crore in the March quarter.

Net profit slipped due to lower sales and increased raw material costs. Apollo Tyres EBITDA (earnings before interest, taxes, depreciation, and amortisation) came at Rs 909.4 crore, logging a drop of 13.5 per cent compared to Rs 1,051.4 crore in the year-ago period. Margin fell to 14.4 per cent, compared to 16.8 per cent in the year-ago period.