Mid Cap Tyre Company Reports Jump In Profit, Declares Special, Final Dividend

Mid cap company operating in Tyres sector, Apollo Tyres Ltd on May 9 declared sharp jump of 278% YoY in its consolidated net profit for the fourth quarter ended March 31 to Rs 427.4 crore. It was reported Rs 113 crore in the corresponding period last year. Its revenue from operations soared 12% YoY to Rs 6247 crore for the quarter in consideration as against Rs 5,578 crore declared in the January-March period last year.

Apollo Tyres announced special and final dividend also. Shares of Apollo Tyres hit new 52-week high in trade today. Check details below:

Apollo Tyres Declares Special, Final Dividend: According to the BSE filing of the company, "Recommended the Final Dividend of Rs. 4.00 per Equity Share and a Special Dividend of Rs. 0.50 per Equity Share on occasion of 50th Annual General Meeting (AGM) of the Company, aggregating to Rs. 4.50 (i.e. 450%) per Equity Share on face value of Re. 1 each for FY23, subject to the approval of the Shareholders at the ensuing AGM of the Company, which shall be paid/ dispatched on or before 30 days from the conclusion of the AGM."

Apollo Tyres Stock Performance: The last trading price of Apollo Tyres is Rs 381.60 per share with intraday gain of 1.42% on BSE. The stock's 52-week high price is Rs 383.25 per share and 52-week low price is Rs 167.15 apiece, respectively. The mid cap company has a market capitalisation of Rs 24,235.45 crore. The stock gave 29% return in last 6-months, 97% return in last 1-year, and 323% return in last 3-years.

About Apollo Tyres: Apollo Tyres Limited is one of the largest tyre manufacturers in India. Several generations of Indian motorists continue to trust Apollo Tyres for ride quality and comfort. The brand has over 5,000 authorized dealerships, including over 2,500 exclusive Apollo Tyre shops across the country. Apart from car tyres and SUV tyres, the company also started manufacturing motorcycle tyres in 2016, according to its official website.