Shares of Apollo Tyres today gained nearly 6 per cent after the company's consolidated net profit doubled to Rs 281.62 crore in the quarter ended March 31.
The company's stock ended at Rs 177.30, up 5.88 per cent on the BSE. During the day, the scrip surged 9.28 per cent to Rs 183 -- its 52-week high level.
At the NSE, the stock ended 5.55 per cent up at Rs 177.
In terms of volume, 30.26 lakh shares of the company changed hands at the BSE, while more than one crore scrips were traded at the NSE during the day.
Apollo Tyres' consolidated net profit doubled to Rs 281.62 crore in the quarter ended March 31, mainly on account of increased sales.
Profit was Rs 141.05 crore in the corresponding quarter of the previous financial year, Apollo Tyres said in a filing to the BSE.
Consolidated total income rose to Rs 3,229.27 crore from Rs 3,041.99 crore a year earlier, it added.
Consolidated net profit for the financial year ended March 31 rose to Rs 1,005.05 crore from Rs 613.80 crore in the previous financial year, crossing the Rs 1,000 crore mark for the first time.
