Mid Cap Tyres Stock Soars 6%, Volume Spurts 6.02 Times As Net Jumps 164.37%

Shares of Apollo Tyres Ltd rallied 5.94% today to 408.20 per share after the company recorded a strong jump of 164.37 in its consolidated net profit to Rs 474.26 crore for the September quarter on higher revenue and reduced raw material costs. The mid cap tyres sector stock declared its consolidated net profit at Rs 179.39 crore in the corresponding quarter of last year. Apollo Tyres also saw a rise in its volume by more than 6.02 times. Apollo Tyres shares gained 8.56% in last 2-weeks, soared 24% YTD, and rallied 165% in last 3-years. Check details below:

Apollo Tyres Declares Healthy Q2 Earnings: The company announced its consolidated revenue from operations for the quarter under review at Rs 6,279.67 crore as compared to Rs 5956.05 crore in the same quarter of last year. Its cost of materials consumed declined to Rs 2634.92 crore for September quarter as against Rs 3,101.56 crore in the year ago period. Also, total expenses remained lower at Rs 6612.81 crore as compared to Rs 5724.66 crore last year.

"Our operations have experienced positive revenue growth, and we are witnessing encouraging signs, particularly from India, indicating further demand improvement in the future," Apollo Tyres Chairman Onkar Kanwar said.

Apollo Tyres Stock Performance & Return: Current market price of Apollo Tyres share on BSE is Rs 406.90 per share with intraday gain of 5.94%. Its 52-week high price is Rs 440.95 per share and 52-week low price is Rs 270.05 per share, respectively. The company has a market capitalisation of Rs 25,864.49 crore. Apollo Tyres stock offered return of 35% in last 1-year, gained 77% in last 2-years, and surged 84% in last 5-years.

About: Apollo Tyres Ltd is an international tyre manufacturer and the leading tyre brand in India. It is built around the core principles of creating stakeholder value through reliability in its products and dependability in its relationships. The company has a total of six manufacturing units -- 4 in India and 1 each in the Netherlands and Hungary. India's fifth and 7th globally, is coming up in Andhra Pradesh, according to its official website.

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