Shares of Apollo Tyres today advanced by nearly 11 per cent after the company reported a 51.35 per cent increase in consolidated net profit for the third quarter ended December 31, 2015.
The stock jumped 10.70 per cent to settle at Rs 149.50 on BSE. Intra-day, it climbed 11.58 per cent to Rs 150.70.
At NSE, shares of the company surged 10.69 per cent to close at Rs 149.55.
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The company added Rs 735.92 crore to Rs 7,609.92 crore in market valuation.
Apollo Tyres yesterday reported a 51.35 per cent increase in consolidated net profit at Rs 278.5 crore for the third quarter ended December 31, 2015.
The company had posted a consolidated net profit of Rs 184 crore in the same period last fiscal, Apollo Tyres said in a BSE filing yesterday.
Net sales during the period under review stood at Rs 2,929.45 crore as against Rs 3,037.29 crore in the corresponding period of the previous fiscal, it added.