APL Apollo Tubes, India’s largest manufacturer of structural steel tubing, has reported a solid performance in the March quarter of FY23. The company’s consolidated profit for the period rose by 14.3% year-on-year to Rs 201.8 crore, thanks to healthy operating conditions. Revenue for the quarter also increased, rising by 5.1% over the same period last year to reach Rs 4,431 crore.
The strong results were driven by improving demand for the company’s products in India’s construction industry, which has been buoyed by supportive government policies and a favorable economic environment. APL Apollo Tubes has been investing heavily in expanding its production capacity and improving its product offerings to capture a larger share of this market.
Looking ahead, the company remains optimistic about its growth prospects and is well-positioned to capitalize on the continued expansion of India’s infrastructure sector.