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Plastic Products company Apollo Pipes announced Q3FY24 results:
- Sales volume higher by 5% to 18,868 tonnes from 18,011 tonnes in Q3FY23.
- Revenue declined by 6% to Rs 2.2 billion compared to Rs 2.4 billion in Q3FY23.
- EBITDA increased by 25% to Rs 201 million as compared to Rs 161 million in Q3FY23.
- Net profit increased by 87% to Rs 91 million as compared to Rs 49 million in Q3FY23.
Commenting on the Company’s performance for Q3FY24, Sameer Gupta, Chairman cum Managing Director, Apollo Pipes said, “We have reported strong 9MFY24 sales volume with a growth of 25% YoY to 59,890 Ton and, on the back of resilient operational improvement and improved demand from consumers across segments. We continue to make strong inroads across cPVC, HDPE pipe, and value-added product segments. With our upcoming expansion plan to increase our capacity to 286k in the next 3-4 years from 136k currently, we remain confident that our product portfolio along with other value-added offerings like fittings, solvents, bath fittings, adhesives, taps, and faucets will enhance our reach and strengthen sales. In addition, we are aiming towards optimally utilizing our capacities over the next coming years, which will also help augment sales volumes, going ahead”.
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