Apollo Tyres Q1 net profit up 10.9% YoY; stock rallies

NEW DELHI: Apollo Tyres Ltd ended 0.39 per cent higher after rallying by 3 per cent on Tuesday after the tyre maker reported 10.9 per cent year-on-year (YoY) growth in the net profit to Rs 315 crore for the quarter ended June 30 which was higher than ETNow estimate of Rs 265 crore.

The tyre maker reported a net profit of Rs 284 crore in the corresponding quarter of last fiscal.

Total sales grew by 15.9 per cent on a YoY basis to Rs 3,280 crore for the June quarter compared with Rs 2,830 crore reported in the year-ago period.

At 01:50 pm; Apollo Tyres was trading 2 per cent higher at Rs 184.20.