Key Points
(APLO.NS) reported a better-than-expected second-quarter profit on Tuesday, boosted by higher auto sales and lower input costs...
Analysts, on average, had expected a profit of almost 4.33 billion rupees, according to LSEG data...
Despite the festival season being pushed to the third fiscal quarter, analysts had anticipated higher realisations from price increases and premiumisation to help revenue growth in the September quarter for autos and auto ancillaries...
The Federation of Automobile Dealers Association said in early October that India's retail vehicle sales rose 20% in September, with easing monsoon worries and higher rural demand helping sentiment...
Apollo peers MRF Tyres (MRF.NS) and Goodyear India (GDYR.NS) also logged profit jumps on the back of higher demand and easing costs...
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