APL Apollo Tubes soars after solid Q3 numbers

APL Apollo Tubes jumped 8.5% to Rs 2203.9 after the company reported stellar Q3 2019 numbers on Saturday, 25 January 2020.

APL Apollo's consolidated net profit jumped 477% to Rs 74.26 crore on a 25.8% rise in net sales to Rs 2040.45 crore in Q3 December 2019 as against Q3 December 2018.

Profit before tax (PBT) for Q3 December 2019 stood at Rs 110.92 crore, up by 465.1% from Rs 19.63 crore reported in Q3 December 2018. Tax expenses jumped 359% to Rs 22.86 crore in Q3 FY20 from Rs 4.98 crore in Q3 FY19.

EBITDA stood at Rs 165 crore in Q3 December 2019 as against Rs 62 crore in Q3 December 2018, rising by 164%.

Commenting on the company's performance, Sanjay Gupta, Chairman, APL Apollo, said, the company has reported volume growth of 52% during the quarter led by strong demand across product categories. Strong volume contribution from Apollo Tricoat also assisted our overall volume growth during the quarter.

APL Apollo Tubes is one of India's leading branded steel products manufacturers. Headquartered at Delhi NCR, the Company operates 10 manufacturing facilities with a total capacity of 2.5 Million MTPA.

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