Apollo Tyres September quarter results take stock to a new high1 min read . Updated: 15 Nov 2022, 11:19 AM IST
Apollo Tyres has raised prices to battle cost inflation and this is expected to aid margin performance in the days to come
Apollo Tyres Ltd’s shares hit a new 52-week high in early trade on Tuesday on the National Stock Exchange. The stock was up more than 4%. One reason for the optimism could be because the September quarter (Q2FY23) earnings beat estimates. The tyre manufacturer’s consolidated net profit rose by nearly 12% year-on-year (y-o-y) to almost Rs195 crore. A lower tax outgo helped net profit growth.
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