Shares of APL Apollo Tubes rose over 4 per cent in early trade today after the firm logged its highest ever quarterly sales volume for the period ended July to September 2022. APL Apollo Tubes stock gained 4.3 per cent to Rs 1,082 against the previous close of Rs 1,036.45 on BSE. APL Apollo Tubes stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Total 3,430 shares of the firm changed hands amounting to a turnover of Rs 36.52 lakh on BSE. Market cap of APL Apollo Tubes stood at Rs 26,623 crore on BSE.
The share has gained 25.45 per cent in a year and risen 6.8 per cent in 2022. APL Apollo Tubes logged sales volume of 602,283 tonne in Q2FY23. This is the highest quarterly sales volume reported by the company. In the first half of this fiscal, sales volume stood at 10,25,071 tonne compared to 8,00,511 tonne last year.
"In H2FY23, the sales volume would get further boost from commissioning and ramp-up of New Raipur plant," the company said.
In Q1 of this fiscal, net profit fell 27.31 per cent to Rs 107.11 crore from Rs 147.35 crore in the first quarter of the last fiscal. Sales climbed 35.68 per cent to Rs 3,438 crore in Q1 against Rs 2,534 crore in the corresponding quarter of last fiscal. On an annual basis, the firm reported a rise of 53.69 per cent in sales to Rs 13,063 crore in the last fiscal against sales of Rs 8,499.75 crore for fiscal ended 2021.
Net profit climbed 54.73 per cent to Rs 557.29 crore in March 2022 fiscal against Rs 360.16 crore in the fiscal ended 2021. Operating profit climbed 39.27 per cent to Rs 945.26 crore in the previous fiscal against Rs 678.71 crore in the fiscal ended 2021.
The firm manufactures and exports galvanised steel tubes, galvanised steel pipes, and welded black pipes and tubes. The company's products include black hollow section and round pipe, pre-galvanised tubes, structural steel tubes, galvanised tubes, MS black pipes and hollow sections. The firm has an extended distribution network of warehouses and branch offices in 29 cities across the country catering to domestic as well as 20 countries worldwide.
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