Apollo Tyres' stock price up by more than 3% today

16 May 2024 , 01:03 PM

Apollo Tyres Limited shares rose over 7% to ₹508 in morning trade on May 16, despite a 14% year-on-year decline in net profit to ₹354 Crore, in the March quarter.

At the time of writing, shares were trading at ₹489.25, up 3.20% from the previous close. The stock has gained 33.71% over the past year and 7.94% since the beginning of the year.

For the full financial year, consolidated net profit was ₹1,722 Crore, a 65% increase from ₹1,046 Crore in the previous year. Consolidated revenue from operations grew by 3%, reaching ₹25,378 Crore compared to ₹24,568 Crore in FY23.

The company’s board recommended a dividend of ₹6 per equity share on a face value of ₹1 each.

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