APL Apollo Tubes Reports 35% Profit Growth

31 Oct 2023 , 03:25 PM

APL Apollo Tubes witnessed a drop of more than 1 % in its share price as investors opted to book profits, despite the company’s impressive 35 % annual profit growth, totaling Rs 202.9 crore.

The structural steel tubing firm, APL Apollo Tubes, reported a remarkable 35 % year-on-year profit growth, attributed to robust operating profit, reaching Rs 202.9 crore for the July-September period of FY24.

Furthermore, the company’s revenue from operations also displayed substantial growth, increasing by 16.65 % to Rs 4,630 crore compared to the same period in the previous fiscal year.

APL Apollo, headquartered in the Delhi-NCR region, operates 11 manufacturing facilities across India with a combined capacity of 3.6 million tonnes.

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