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Posted on Feb 16, 12:18PM | IBNS
New Delhi, Feb 15 : APL Apollo Tubes Limited, a leading manufacturer and exporter of ERW steel pipes and tubes, Friday said its gross sales has risen sharply by 60.4 percent in the third quarter ended Dec 2012, .
Gross sales for Q3FY13 have risen sharply by 60.4% at Rs 610.98 crore as compared to Rs 380.91 crore in Q3FY12, said the company in a release.
EBIDTA is at Rs 44.26 crore as against Rs 26.06 crore in the corresponding period last year, up by 70%, it said.
Despite fluctuations in raw material prices, the company has maintained EBIDTA margins at 8.1%.
Net profit for the quarter stood at Rs 19.8 crore as against Rs 10.01 crore in the corresponding quarter previous year.
EPS for the quarter stood at Rs. 9.03.
Nine-month Performance (Consolidated basis)
Gross sales for the nine month period ended December 2012 rose 53.7% to Rs 1621.52 crore as compared to last year period.
EBIDTA is Rs 117.14 crore, an increase of 53%.
PAT is Rs 52.26 crore, up 66.2% and EPS is Rs 22.3.
Speaking on the performance of the company, Sanjay Gupta, Chairman, commented "current quarter has been an important milestone on operational front as we clocked highest production in December."
"Demand push from urban infrastructure and geographical advantages has mitigated fluctuations in raw materials. We are confidant of maintaining growth on back of new value added products to emerging sectors like solar energy and metro networks."
Incorporated in 1986, APL Apollo is one of the largest ERW pipe manufacturers in India with 5 manufacturing locations spreading in northern, southern and western part inter-alia provide ability to produce the largest range of Hollow Sections and Mild Steel Tubes in all variants (black, galvanised and pre-galvanised).