Shares of Apollo Tyres on Thursday dipped over 4 per cent after the company’s consolidated net profit declined 49.54 per cent in the third quarter ended December 31.

The stock declined 4.43 per cent to Rs 215.50 on the BSE. At the NSE, it tumbled 4.21 per cent to Rs 215.85.

Apollo Tyres on Wednesday said itr.

The company had posted a consolidated net profit of Rs 444 crore in the corresponding period last year.

Its revenue from operations, however, increased 10 per cent to Rs 5,707 crore against Rs 5,195 crore in the third quarter of FY21, Apollo Tyres said in a statement.

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