Apollo Tyres is expected post net profit at Rs 247 crore in April-June, down 15 percent from Rs 290.5 crore in corresponding quarter last fiscal. According to a CNBC-TV18 poll, the tyre maker's revenue may
grow 7.5 percent at Rs 3056 crore against Rs 2845.3 crore in year-ago period. During the period, EBITDA is seen down 5 percent at Rs 478 crore against Rs 502.2 crore while operating profit margin may stand at 16 percent versus 17.6 percent year-on-year. The company has been reporting weak earnings for past two quarters as there was single digit revenue growth due to price cuts taken in the last one year. There were price cuts of approximately 9 percent (YoY) to impact realisations. Also Chinese imports have increased in cross ply tyres.
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