Shares of Apollo Tyres on Wednesday advanced by nearly 11 per cent after the company reported a 51.35 per cent increase in consolidated net profit for the third quarter ended December 31, 2015.
The stock jumped 10.70 per cent to settle at Rs 149.50 on BSE. Intra-day, it climbed 11.58 per cent to Rs 150.70.
At NSE, shares of the company surged 10.69 per cent to close at Rs 149.55.
The company added Rs 735.92 crore to Rs 7,609.92 crore in market valuation.
Apollo Tyres on Tuesday reported a 51.35 per cent increase in consolidated net profit at Rs 278.5 crore for the third quarter ended December 31, 2015.
The company had posted a consolidated net profit of Rs 184 crore in the same period last fiscal, Apollo Tyres said in a BSE filing on Tuesday.
Net sales during the period under review stood at Rs 2,929.45 crore as against Rs 3,037.29 crore in the corresponding period of the previous fiscal, it added.