Apollo Tyres’ shares saw a rebound after a four-day losing streak, driven by better-than-expected Q2 FY24 results. The company reported a significant 164% increase in consolidated net profit, reaching ₹474 crore, compared to ₹179 crore in the same period last year. This surge was supported by easing input costs and improved demand. Revenue rose by 5% year-on-year to ₹6,280 crore. The stock responded positively to the results, rising nearly 4% in early trading, breaking its recent downward trend.
- Net Profit: The company’s net profit soared by 164% to ₹474 crore, compared to ₹179 crore in the same period last year.
- Revenue: Revenue increased by 5% year-on-year to ₹6,280 crore.