Tyre manufacturer Apollo Tyres Ltd on Thursday said its consolidated net profit increased over two-fold to Rs 397 crore for the first quarter that ended June 30, 2023, on account of robust sales across markets.
In the corresponding quarter last year, Apollo Tyres posted a net profit of Rs 177.3 crore, the company said in a regulatory filing.
In the quarter, total revenue stood at Rs 6,244.5 crore during the period under review, up 5.1 percent against Rs 5,942 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA jumped 52.4 percent to Rs 1,051.3 crore in the first quarter of this fiscal over Rs 689.8 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 16.8 percent in the reporting quarter as compared to 11.6 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The results came after the close of the market hours. Shares of Apollo Tyres Ltd ended at Rs 430.35, down by Rs 8.30, or 1.89 percent on the BSE.
