Apollo Tyres disclosed a sharp rise in net profit for the quarter ended March 2014. During the quarter, the profit of the company rose 99.66% to Rs 281.62 million from Rs 141.05 million in the same quarter last year.
Net sales for the quarter rose 6.16% to Rs 3,229.27 million, compared with Rs 3,042 million for the prior year period.
Earnings per share for the quarter stood at Rs 5.58, registering 98.58% growth over previous year period.
| Quarterly Results - (Rs in mn) |
| As at | Mar - 14 | Mar - 13 | %Change |
| Net Sales | 3,229.27 | 3,041.99 | 6.16 |
| Net Profit | 281.62 | 141.05 | 99.66 |
| Basic EPS | 5.58 | 2.81 | 98.58 |
Shares of the company gained Rs 14.5, or 8.66%, to trade at Rs 181.95. The total volume of shares traded was 1,777,762 at the BSE (1.39 p.m., Thursday).
