Apollo Pipes Standalone Net Profit Rises 337.50% in Q1FY22

Shares of Apollo Pipes ended lower on the stock exchange despite posting robust numbers in Q1FY22. The net profit of the company jumped 337.50% to Rs 8.75cr in the quarter ended June 2021 as against Rs 2cr during the previous quarter ended June 2020.

BY Realty Plus
Published - Wednesday, 28 Jul, 2021

Apollo Pipes Standalone Net Profit Rises 337.50% in Q1FY22

Shares of Apollo Pipes ended lower on the stock exchange despite posting robust numbers in Q1FY22. The net profit of the company jumped 337.50% to Rs 8.75cr in the quarter ended June 2021 as against Rs 2cr during the previous quarter ended June 2020. The sales rose 48.75% to Rs 137.61cr in the quarter ended June 2021 as against Rs 92.51cr during the previous quarter ended June 2020. Apollo Pipes Ltd ended at Rs 1,164.50 down by Rs 33.45 or 2.79% from its previous closing of Rs1,197.95 on the BSE. The scrip opened at Rs 1,197.80 and touched a high and low of Rs 1,199 and Rs 1,154 respectively. Looking ahead, the various pro-growth measures undertaken by the Government, especially in the rural, infrastructure and agricultural space should lead to better demand and consumption of our products in the domestic market over the medium-to-longer term. The company is confident that once the macro-situation normalizes, it should be able to deliver strong and sustainable growth, going forward.

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