Apollo Tyres posted a great set of numbers for Q2FY21 with consolidated net profit coming in at Rs.200 crore v/s Rs.83 crore (YoY).
Sequentially, it has turned around from a net loss of Rs.134 crore.
What really helped was a robust topline – revenue from operations rose 8% (YoY) at Rs.4321 crore and other income was up from 4 crore to Rs.38 crore. Total expenses were 93% of the total revenue v/s 97% in previous Q2.
The stock, which had closed yesterday at Rs.147.90, opened higher at Rs.150.75 and even went up to Rs.151.90 but from there, it lost steam and slipped down to Rs.144.80 and is currently at Rs.146 levels, down around 1.5%.