Tyre major Apollo Tyres Ltd on Wednesday (February 7) reported a 78.1% year-on-year (YoY) jump in net profit at ₹496.6 crore for the third quarter that ended December 31, 2023.
In the corresponding quarter last year,
Apollo Tyres posted a net profit of ₹278.8 crore, the company said in a regulatory filing. The company's revenue from operations increased 2.7% to ₹6,595.4 crore against ₹6,422.8 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA increased 32.2% to ₹1,208.1 crore in the third quarter of this fiscal over ₹913.4 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 18.3% in the reporting quarter versus 14.2% 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 ₹552.25, down by ₹1.05, or 0.19%, on the BSE.
(Edited by : Shoma Bhattacharjee)
