APL Apollo Tubes surges 9%, hits 52-week high on strong Q3 results

The company's Q3 net revenues rose 25 per cent year-on-year (YoY) to Rs 2,116 crore on the back of strong volume growth

Shares of APL Apollo Tubes surged 9 per cent to Rs 2,213 on the BSE on Monday after reporting a strong performance in the December quarter during which its consolidated net profit zoomed over 6-fold to Rs 83.2 crore from Rs 12.9 crore in the year-ago quarter. The stock of the country’s leading branded steel tubes manufacturer was trading at its 52-week high level on the BSE.

The company’s net revenues rose 25 per cent year-on-year (YoY) to Rs 2,116 crore on the back of strong volume growth. Sales volume increased 52 per cent YoY to 4.80 lakh tons