ICICI Direct has come out with its third quarter (October-December’ 20) earnings estimates for the Auto & Auto Ancillary sector. The brokerage house expects Apollo Tyres to report net profit at Rs. 224 crore up 29.1% year-on-year (up 12.2% quarter-on-quarter).
Net Sales are expected to increase by 14.2 percent Y-o-Y (up 17.3 percent Q-o-Q) to Rs. 5,024 crore, according to ICICI Direct.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 34.2 percent Y-o-Y (up 3.1 percent Q-o-Q) to Rs. 716 crore.
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