India's Apollo Pipes jumps 4% after Q4 EBITDA rises

Apollo Pipes

09/05/2023 08:52

** Shares of Apollo Pipes Ltd  AOLL.NS  rise as much as 3.9%
to 624.90 rupees
    ** The plastic products maker's EBITDA climbed 3.7% for the
March qtr; EBITDA margin expands to 11.68% from 11.49% a year
ago
    ** Q4 net profit fell 3.7% Y/Y, rev from ops up 1.8% Y/Y
    ** If trends hold, stock on track to advance for fourth
consecutive session
    ** About 110,866 shares - around its 30-day avg - change
hands by 1:06 p.m. IST - Refinitiv Data
    ** All five analysts covering AOLL have a "buy" or higher
rating; median PT is 618 rupees
    ** Stock last up 2.2%, extending YTD gains to 18.8%


($1 = 81.7800 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))