Apollo Tyres Shares Fall Despite March Quarter Profit Rising 270%

Shares of tyre maker Apollo Tyres fell as much as 7.37 per cent to hit an intraday low of Rs 204.70 despite it reported a jump of 268 per cent in net profit in quarter ended March 2021. Apollo Tyres consolidated net profit came in at Rs 289 crore compared with Rs 78 crore in the corresponding period last year. Its sales jumped 39 per cent to Rs 4,927 crore compared with Rs 3,551 crore in the same quarter last year.