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Apollo Tyres Q4 profit down; stock falls

Share price of Apollo Tyres Ltd ended down more than 3 percent  on Thursday after the company registered a fall of 66 percent Year-on-year fall in PAT for the fourth quarter FY2019 at Rs.83.99-cr vs Rs.250.1-cr in the corresponding period a year ago. Its revenue for the quarter rose 5pc at Rs.4273-cr as  against Rs.4033.6-cr in the matching period a year ago. Meantime, the company’s BoD have recommended a final dividend of Rs.3.25 per equity share of face value of Re.1/- each, subject to shareholders’ consent.

At market closing hours, Apollo Tyres Ltd’s share price ended at Rs184.80, down by Rs.6.95 or 3.62%, from its previous close of Rs.191.75 on the NSE, while Sensex closed 230 points lower at 37558.91 and Nifty quoted at 11,301.80, down 57.65 points.