Capital Market Last Updated at January 25, 2022 13:16 IST
Apollo Tricoat Tubes declined 3.29% to Rs 794.35 after the company's standalone net profit dropped 26.8% to Rs 27.73 crore on a 43% jump in net sales to Rs 719.91 crore in Q3 FY22 over Q3 FY21.
Standalone profit before tax (PBT) skid 26.5% to Rs 37.26 crore in Q3 FY22 from Rs 50.68 crore in Q3 FY21.
Sales volume declined by 26% to 53,684 ton in Q3 FY22 over Q3 FY21. EBITDA slipped 25% to Rs 42.90 crore in Q3 December 2021 from Q3 December 2020. EBITDA per ton stood at Rs 7,999/ ton, rising 2% Y-o-Y (year-on-year) in Q3 FY22 as against Q3 FY21.
Commenting on the company's performance for Q3 FY22, Rahul Gupta, the chairman of Apollo TriCoat Tubes, said, "Apollo Tricoat Tubes created its dominant leadership in two product categories, Home Beautification and Door Solutions. These innovative products were successfully launched and well accepted in the markets. I am proud of the way Team Tricoat has executed a strong business continuity plan focused on Health, Cost and Cash. With our continuous focus on working capital and cost efficiencies, the company is emerging stronger quarter on quarter."
APL Apollo Tubes is engaged in the business of production of electric resistance welded (ERW) steel tubes. The company manufactures black pipe, galvanized pipe, pre-galvanized pipe and coils.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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
Copyrights © 2022 Business Standard Private Ltd. All rights reserved.
Business Standard is happy to inform you of the launch of "Business Standard Premium Services"
As a premium subscriber you get an across device unfettered access to a range of services which include:
Welcome to the premium services of Business Standard brought to you courtesy FIS. Kindly visit the Manage my subscription page to discover the benefits of this programme. Enjoy Reading! Team Business Standard