APL Apollo Tubes' Total Sales Rose To 7.58 Lakh Ton In Q2

APL Apollo Tubes Ltd. announced on Tuesday that its total sales for the quarter ending Sept. 30 increased to 7.58 lakh tons, up from 6.74 lakh tons in the same quarter last year.

In the first half of this financial year, sales volumes rose 11% year-on-year, reaching 14.79 lakh tons, compared to 13.36 lakh tons.

Sales of heavy, super heavy, light, and general steel tubes all increased in the second quarter. Heavy steel tube sales reached 52,215 tons, while super heavy sales totaled 10,673 tons. Light steel tube sales rose to 1.27 lakh tons, and general steel tube sales increased to 3.38 lakh tons.

The Apollo Z range, which includes rust-proof and coated steel tubes, also experienced growth in the quarter, with sales of 1.50 lakh tons and 51,242 tons, respectively.

Conversely, sales of agricultural and industrial steel tubes declined to 28,867 tons, down from 32,375 tons in the same quarter last year.

The revenue of APL Apollo Tubes in the first quarter grew 9% year-on-year to Rs 4,974 crore, compared to Rs 4,545 crore in the same quarter last year. Ebitda was down 2% at Rs 302 crore, with Ebitda margin at 6.1%. The net profit for the first quarter was flat at Rs 193 crore.

APL Apollo Tubes' share price rose as much as 2.77% during the day to Rs 1,628 apiece on the NSE. The stock closed 2.36% higher at Rs 1,621 per share. This compares with a 0.05% decline in the benchmark Nifty 50.

The stock has fallen 1.14% in the last 12 months and risen 6.08% year-to-date.