India's Apollo Pipes down after Q4 profit fall

Apollo Pipes

21/05/2024 06:50

** Shares of Apollo Pipes  AOLL.NS  down as much as 4.4% at
605 rupees; last down 2% 
    ** Co reported a 56.6% Y/Y drop in its March-qtr net profit
to 65.2 mln rupees ($782,515.81)
    ** Revenue from operations fell 2.4% Y/Y
    ** EBITDA margin contracts to 10.1% from 11.7% a year
earlier
    ** More than 96,000 shares traded by 11:17 a.m. IST, 2.4x
its 30-day avg
    ** Average rating of six analysts covering the stock is
"buy"; median PT is 750 rupees - LSEG data
    ** Including session's move, stock is down 9.4% YTD




($1 = 83.3210 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))