This is the highest quarterly sales volume reported by the company.

On sequential basis, the company's sales volume increased 1.87% in Q2 FY24 as compared with 6,62,393 ton reported in Q1 FY24.

For H1 FY24, the firm reported sales volume of 13,36,262 ton, registering a growth of 30% YoY.

“The contribution from value-added segment was stable at 55% in Q2 FY24. APL Apollo's strategy of de-commoditization is intact. The sales mix will improve further in coming quarters with rising contribution of innovative products. We are encouraged to see strong sales growth in the heavy structural steel tubes. The sales mix should eventually move towards 70% for value added products,” the company stated in the press release.

APL Apollo Tubes is India's leading structural steel tube manufacturer. The company operates 11 manufacturing facilities with a total capacity of 3.6 million tons.

The company's consolidated net profit surged 60.5% to Rs 193.62 crore on 32% jump in net sales to Rs 4,402.47 crore in Q1 FY24 over Q1 FY23.

Shares of APL Apollo Tubes declined 1.33% to Rs 1,618.35 on the BSE.