APL Apollo Tubes profit and EPS soar by 90%

APL Apollo Tubes said net profit and earnings per share rose by 90% in April-June period.

Sanjay Gupta, Chairman said that improved operational efficiencies and along with better product mix resulted in higher margins.

Although the overall sales increased by 13% to 1,127.5 cr.

Net Profit was Rs 41.4 cr. EPS rose to Rs 17.68 from Rs 9.32.

GP pipe product range was the only positive performer in terms of volume, with output growing by 20%.

All the other product which included black pipe and gl pipe showed a dip in sales, said the company.

He added that the company is progressing fast towards its expansion plans which includes setting up of a new unit in Raipur but did not give any time line on this.