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Published on 28/10/2020 4:31:17 PM | Source: Dion Global Solutions Ltd

APL Apollo Tubes Q2 net profit jumps 59.76% at Rs 42.80 cr

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The company reported standalone net profit of Rs 42.80 crore for the quarter ended September 30, 2020 as compared to Rs 26.79 crore in the same period last year, registering a year-on-year growth of 59.76 per cent.

Net revenue of the company rose substantially by 22.65 per cent at Rs 1,528.24 crore in July-September quarter of this fiscal as against Rs 1,245.97 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 19.15 per cent to Rs 1,505.99 crore from Rs 1,263.94 crore in year ago period.

Other Income grew by 146.72 per cent at Rs 12.41 crore versus (Sep'19 Rs 5.03 crore). Operating Profit surged by 161.86 per cent to Rs 75.60 crore as against Rs 28.87 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 113.36 per cent in September quarter.

Interest declined by 33.48 per cent y-o-y to Rs 13.75 crore, while Taxation increased by 149.01 per cent at Rs 14.83 crore (Sep'19 Rs -30.26 crore).