Apollo Tricoat Tubes skids after Q3 PAT falls 27% YoY to Rs 28 cr

Apollo Tricoat Tubes declined 3.29% to Rs 794.35 after the company's standalone net profit dropped 26.8% to Rs 27.73 crore on a 43% jump in net sales to Rs 719.91 crore in Q3 FY22 over Q3 FY21.

Standalone profit before tax (PBT) skid 26.5% to Rs 37.26 crore in Q3 FY22 from Rs 50.68 crore in Q3 FY21.

Sales volume declined by 26% to 53,684 ton in Q3 FY22 over Q3 FY21. EBITDA slipped 25% to Rs 42.90 crore in Q3 December 2021 from Q3 December 2020. EBITDA per ton stood at Rs 7,999/ ton, rising 2% Y-o-Y (year-on-year) in Q3 FY22 as against Q3 FY21.

Commenting on the company's performance for Q3 FY22, Rahul Gupta, the chairman of Apollo TriCoat Tubes, said, "Apollo Tricoat Tubes created its dominant leadership in two product categories, Home Beautification and Door Solutions. These innovative products were successfully launched and well accepted in the markets. I am proud of the way Team Tricoat has executed a strong business continuity plan focused on Health, Cost and Cash. With our continuous focus on working capital and cost efficiencies, the company is emerging stronger quarter on quarter."

APL Apollo Tubes is engaged in the business of production of electric resistance welded (ERW) steel tubes. The company manufactures black pipe, galvanized pipe, pre-galvanized pipe and coils.

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