Business Standard

SPONSORED CONTENT

What's this ?

Sponsored Content is a "Paid For" Press Release distribution arrangement. Purely a Commercial Arrangement, brands and advertisers pay to be featured and to get this content published.

The Editorial/Content team at Business Standard has not contributed to writing/editing this article.

To get your brand featured in this Section write to assist@bsmail.in

APL Apollo registers net profit of Rs 168 million despite COVID-19 pandemic

ANI Press Release  |  New Delhi [India]  

Tennis player James Blake
Anubhav Gupta, Chief Strategy Officer, APL Apollo Group

Bucking the COVID-19 induced downturn in the industry, APL Apollo Tubes Limited (APL Apollo), India's leading branded structural steel tube manufacturer has registered a considerable net profit of Rs 168 million in April-June quarter of FY-21.

The company's performance assumes significance since the entire industrial landscape in the country is marred with slowdown and shrinking demand.

Despite all the obstacles created by the pandemic and also less volume of sales, APL Apollo has done well and managed to earn the profit. Though there was a complete stoppage of production for 21 days due to nationwide lockdown, it gradually picked up the pace.

Notwithstanding these unprecedented challenges, APL Apollo has maintained its dominant leadership in the structural steel tube industry which demonstrates its ability to quickly adapt to the changing market situation and pioneer new innovations.

"It is due to disruptions from COVID-19 lockdown our sales volume declined in Q1FY21, but we still managed to maintain our market leadership. I am proud of the way Team APL Apollo has executed a strong business continuity plan focussed on Health, Cost and Cash. The company has resumed its operations with strict health and safety protocols. With our continuous focus on working capital and cost efficiencies, I am confident that the company will emerge stronger from this situation," said Anubhav Gupta, Chief Strategy Officer, APL Apollo Group.

The last couple of years have been the borne testimony to the dominance of APL Apollo in branded structural steel tubes segment. APL Apollo is looking to strengthen its pan-India presence on the back of the growing popularity of its state-of-the-art product range.

As per the plans, APL Apollo is in the process of launching several new products in the coming months. APL Apollo is constantly moving up the ladder with its strong pan-India network of fabricators and dealers.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, August 21 2020. 23:30 IST
RECOMMENDED FOR YOU

APL Apollo registers net profit of Rs 168 million despite COVID-19 pandemic

New Delhi [India] Aug 21 (ANI/NewsVoir): Bucking the COVID-19 induced downturn in the industry, APL Apollo Tubes Limited (APL Apollo), India's leading branded structural steel tube manufacturer has registered a considerable net profit of Rs 168 million in April-June quarter of FY-21. Bucking the COVID-19 induced downturn in the industry, APL Apollo Tubes Limited (APL Apollo), India's leading branded structural steel tube manufacturer has registered a considerable net profit of Rs 168 million in April-June quarter of FY-21.

The company's performance assumes significance since the entire industrial landscape in the country is marred with slowdown and shrinking demand.

Despite all the obstacles created by the pandemic and also less volume of sales, APL Apollo has done well and managed to earn the profit. Though there was a complete stoppage of production for 21 days due to nationwide lockdown, it gradually picked up the pace.

Notwithstanding these unprecedented challenges, APL Apollo has maintained its dominant leadership in the structural steel tube industry which demonstrates its ability to quickly adapt to the changing market situation and pioneer new innovations.

"It is due to disruptions from COVID-19 lockdown our sales volume declined in Q1FY21, but we still managed to maintain our market leadership. I am proud of the way Team APL Apollo has executed a strong business continuity plan focussed on Health, Cost and Cash. The company has resumed its operations with strict health and safety protocols. With our continuous focus on working capital and cost efficiencies, I am confident that the company will emerge stronger from this situation," said Anubhav Gupta, Chief Strategy Officer, APL Apollo Group.

The last couple of years have been the borne testimony to the dominance of APL Apollo in branded structural steel tubes segment. APL Apollo is looking to strengthen its pan-India presence on the back of the growing popularity of its state-of-the-art product range.

As per the plans, APL Apollo is in the process of launching several new products in the coming months. APL Apollo is constantly moving up the ladder with its strong pan-India network of fabricators and dealers.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
image
Business Standard
177 22

APL Apollo registers net profit of Rs 168 million despite COVID-19 pandemic

Bucking the COVID-19 induced downturn in the industry, APL Apollo Tubes Limited (APL Apollo), India's leading branded structural steel tube manufacturer has registered a considerable net profit of Rs 168 million in April-June quarter of FY-21.

The company's performance assumes significance since the entire industrial landscape in the country is marred with slowdown and shrinking demand.

Despite all the obstacles created by the pandemic and also less volume of sales, APL Apollo has done well and managed to earn the profit. Though there was a complete stoppage of production for 21 days due to nationwide lockdown, it gradually picked up the pace.

Notwithstanding these unprecedented challenges, APL Apollo has maintained its dominant leadership in the structural steel tube industry which demonstrates its ability to quickly adapt to the changing market situation and pioneer new innovations.

"It is due to disruptions from COVID-19 lockdown our sales volume declined in Q1FY21, but we still managed to maintain our market leadership. I am proud of the way Team APL Apollo has executed a strong business continuity plan focussed on Health, Cost and Cash. The company has resumed its operations with strict health and safety protocols. With our continuous focus on working capital and cost efficiencies, I am confident that the company will emerge stronger from this situation," said Anubhav Gupta, Chief Strategy Officer, APL Apollo Group.

The last couple of years have been the borne testimony to the dominance of APL Apollo in branded structural steel tubes segment. APL Apollo is looking to strengthen its pan-India presence on the back of the growing popularity of its state-of-the-art product range.

As per the plans, APL Apollo is in the process of launching several new products in the coming months. APL Apollo is constantly moving up the ladder with its strong pan-India network of fabricators and dealers.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22