Apollo Micro System Share Price Jumps As Q3 Net Profit Rises

Apollo Micro Systems Ltd.'s share price jumped over 7% on Wednesday, as the company reported a surge in its net profit during October-December period. Its consolidated net profit rose 83.5% on the year to Rs 18.3 crore from Rs 10 crore.

The consolidated topline rose 62.5% to Rs 148 crore versus Rs 91.3 crore. Apollo Micro Systems' operating profit rose 58.1% to Rs 37.9 crore versus Rs 24 crore.

Its margin for the third quarter was at 25.6%, compared to 26.3% in the corresponding period of the previous financial year.

Apollo Micro Systems share price rose 7.43% to Rs 138.00, the highest level since Feb 1. It pared gains to trade 3.98% higher at Rs 133.77 apiece as of 9:58 a.m., as compared to a 0.06% advance in the NSE Nifty 50.

The stock rose for a second day in a row. It hit a 52-week high of 157 on Jan. 21. Its touched the 52-week low of Rs 87.99 on Oct. 23, 2024.

It has risen 4.21% in 12 months. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 55.61.

The one analyst tracking the company maintains a 'buy' rating, according to Bloomberg data.