Near-term demand worries in replacements biz cloud Apollo Tyres' outlook

There could be some margin relief on account of falling input costs

Ram Prasad Sahu | Mumbai
Last Updated at February 21, 2023 19:14 IST

Led by a strong operating performance, Apollo Tyres posted better than expected financials in the December quarter. Higher gross margins led to a surge in operating profit and the softening raw material basket is a positive for profitability going ahead. Despite the improved show, the stock is expected to be range bound given the subdued outlook for domestic and international replacement segments.

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