APL Apollo Tubes reports flat performance for Q1, net sales highest in 5 quarters
APL Apollo Tubes, a leading player in the iron and steel industry, has recently announced its financial results for the quarter ending March 2024. The company has reported a flat performance for the quarter, with a score of -3, compared to -2 in the previous quarter.
Despite this, there are some positive aspects to APL Apollo Tubes' financials for the quarter. The company's net sales for the quarter were the highest in the last five quarters, at Rs 4,765.74 crore. This indicates a positive trend in near term sales.
However, there are also some areas of concern for the company. The Profit Before Tax less Other Income (PBT) for the quarter was at Rs 202.65 crore, showing a decline of -19.33% compared to the same quarter last year. The Profit After Tax (PAT) also saw a decline of -15.5% year on year, at Rs 170.44 crore. The PBT for the quarter was also the lowest in the last five quarters, indicating a negative trend in the near term.
MarketsMOJO has given a 'Hold' call for APL Apollo Tubes' stock, based on its financial performance for the quarter. Investors should keep a close eye on the company's future financial results to make informed decisions.
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