APL Apollo Tubes Q2 results: Profit rises 72% to Rs 103 cr

APL Apollo Tubes Q2 results: Profit rises 72% to Rs 103 cr


New Delhi: APL Apollo Tubes Ltd (APL Apollo) has reported a 71.5 per cent rise in its consolidated profit at Rs 102.63 crore for the quarter ended September. The company had reported a consolidated profit of Rs 59.83 crore in the year-ago period, the company said in a BSE filing on Wednesday. Its total income for the second quarter of the current fiscal also increased to Rs 2,212.14 crore, as compared to Rs 1,651.90 crore in the year-ago period, it said.

“The Q2FY21 performance was significantly better than Q1FY21, which was partially impacted due to disruption from COVID-19. We have seen strong demand revival across all segments during the quarter…The company has fully 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,” APL Apollo Chairman Sanjay Gupta said.

Credit: Stocks-Markets-Economic Times

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