India covid-19 pandemic India

Investors ignore Apollo Tyres' strong operating performance on bleak global auto sector outlook

Reading now: 991
www.livemint.com

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.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA