Shares of Apollo tyres fell 3 per cent today after the company reported a 20.26 per cent decline in consolidated net profit at Rs 245.16 crore for fourth quarter ended March 31.
The stock tanked 3.19 per cent to Rs 148.65 on BSE.
At NSE, shares of the company went down by 3.22 per cent to Rs 148.70.
Apollo Tyres yesterday reported a 20.26 per cent decline in consolidated net profit at Rs 245.16 crore for the fourth quarter, hit by import of Chinese tyres into the country.
The tyre maker had posted a net profit of Rs 307.48 crore for the January-March period of the year ago fiscal.
Net sales also declined to Rs 2,966.11 crore for the fourth quarter as compared to Rs 3,133.93 crore during the same period of previous fiscal, Apollo Tyres had said in a statement yesterday.
