Apollo tires has declared double dividend

Country’s largest tire company Apollo Tires has declared double dividend. Also, the company’s quarterly results have been impressive. Compared to the January-March quarter of the business year 2021-22, the profit of Apollo Tires has increased from Rs 113 crore to Rs 427 crore in the January-March quarter of the business year 2022-23. At the same time, the income of the company has increased. The income has increased from Rs 5578 crore to Rs 6247 crore. On Tuesday, the stock closed at Rs 381, up 1.40 per cent.

Apollo Tires Q4 Results: As compared to the January-March quarter of the financial year 2021-22, the EBITDA ie working profit of Apollo Tires has increased from Rs 626.3 crore to Rs 998.4 crore in the January-March quarter of the financial year 2022-23. EBITDA margin has increased from 11.2% to 16%.
The good performance of the stock continues. The stock has gained 20 per cent in a month. There has been an increase of 100 per cent in one year and 323 per cent in three years. Mutual funds have bought heavily in the stock. The share has increased from 13.69 per cent to 15.01 per cent in the January-March quarter as compared to the October-December quarter.