Apollo Tyres shares climbed over 6.5% on Wednesday after the company reported a significant jump in net profit for the September quarter, driven by higher revenue and lower raw material costs.
New Delhi, Nov 8 (PTI) Shares of Apollo Tyres on Wednesday jumped over 6.5 per cent after the company reported an over two-and-a-half-fold rise in consolidated net profit for the September quarter.
The stock gained 6.45 per cent to settle at Rs 410.15 apiece on the BSE.
During the day, it zoomed 7 per cent to Rs 412.45. It climbed 6.56 per cent to Rs 409.30 on the NSE.
In traded volume terms, 11.15 lakh shares of the company were traded on the BSE and over 1.70 crore shares on the NSE during the day.
Apollo Tyres on Tuesday reported an over two-and-a-half-fold rise in net profit to Rs 474.26 crore for the September quarter, riding on higher revenue and lower raw material costs.
The company had posted a net profit of Rs 179.39 crore for the same period last fiscal, Apollo Tyres said in a regulatory filing.
Revenue from operations during the quarter under review stood at Rs 6,279.67 crore as against Rs 5,956.05 crore in the year-ago period, it added.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback