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The company’s stock zoomed 12.42 per cent to its one-year high of Rs 255.55 on the BSE.
At the NSE, it gained 12.42 per cent to 255.70 — its one-year high.
Apollo Tyres on Wednesday posted over two-fold increase in its consolidated net profit at Rs 444 crore for the third quarter ended December on the back of robust sales across domestic and international markets.
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Sales during the period under review grew by 14 per cent to Rs 4,965 crore, as against 4,347 crore in the year-ago period, Apollo Tyres said in a statement.
“Our performance across geographies have been robust in the past quarter, and we continue to be extremely positive on the demand environment,” Apollo Tyres Chairman Onkar Kanwar said.