APL Apollo reports 61 percent jump in net profit in FY2020

Despite downbeat market sentiments and overall economic slowdown, structural steel tube manufacturer APL Apollo has reported 61 percent jump in its net profit to Rs 2.4bn in FY2020.

In its financial results for the quarter and full year ended March 31, the company also announced that its ROE has also jumped to 20.5 per cent from 16.5 per cent. The company’s EBITDA increased by 23 per cent to Rs 5bn and its sales volume improved by 22 per cent to 1.6 mn tonnes in FY2020. 

Sanjay Gupta, CMD, APL Apollo, said, “APL Apollo has continued its strong performance despite an increasingly challenging market scenario and we have been able to significantly increase our net profit, besides improving sales volume.”