Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to Rs 165 crore compared to Rs 62 crore in the previous year's quarter. EBITDA per ton stood at Rs 3,440/ ton against Rs 1,981/ton in corresponding quarter of previous fiscal.
The management said that healthy volume growth during the quarter was led by strong demand across product categories. Strong volume contribution from Apollo Tricoat also assisted overall volume growth during the quarter.
The company is well positioned to benefit from the recovery in the operating environment and looks forward to delivering healthy results in the upcoming quarters. Overall, the company remains confident of delivering healthy sales volume growth in FY20 & FY21, it said.
At 09:29 am, the stock was trading 7 per cent higher at Rs 2,180 on the BSE. In comparison, the S&P BSE Sensex was down 0.67 per cent at 41,334 points. A combined 70,517 equity shares have changed hands on the counter on the NSE and BSE so far.