ICICI Direct has come out with its second quarter (July-September’ 19) earnings estimates for the Auto & Auto Ancillary sector. The brokerage house expects Apollo Tyre to report net profit at Rs. 103.8 crore down 28.9% year-on-year (down 26.7% quarter-on-quarter).
Net Sales are expected to decrease by 1.5 percent Y-o-Y (down 3.2 percent Q-o-Q) to Rs. 4,194.5 crore, according to ICICI Direct.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 8.7 percent Y-o-Y (down 10.2 percent Q-o-Q) to Rs. 426.4 crore.
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