Wheels India Q3 results: Net profit rises to Rs 20.60 cr, revenue up 57% to Rs 1,007.18 cr

AgenciesUpdated: Wednesday, February 02, 2022, 12:32 PM IST
article-image
Revenues for Q3 ended December 31, 2021, went up 57 per cent to Rs 1,007.18 crore as compared to Rs 641.74 crore registered in Q3 ended December 31, 2020. / Representational image | Image courtesy: Wheels India

Automotive wheels major Wheels India Ltd on Wednesday said it had closed the third quarter of FY23 with a net profit of Rs 20.60 crore.

In a statement issued here, the company said it had closed the Q3 ended 31.12.2021 with a net profit of Rs 20.60 crore up from Rs 12 crore logged during the previous year corresponding period.

Revenues for Q3 ended December 31, 2021 went up 57 per cent to Rs 1,007.18 crore as compared to Rs 641.74 crore registered in Q3 ended December 31, 2020.

"The Company has had the fifth sequential quarter of growth in exports, with good growth in Q3 exports across segments. We expect the growth trend in exports to continue. On the domestic front, while the tractor and commercial vehicle (CV) segment saw a slowdown in November and December, we expect the CV business to improve in Q4," Srivats Ram, Managing Director said.

(With inputs from IANS)

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Maharashtra CM Eknath Shinde warns Uddhav Thackeray faction of action for violating whip: Highlights...

Maharashtra CM Eknath Shinde warns Uddhav Thackeray faction of action for violating whip: Highlights...

Mira Bhayander: MBMC gets nod to remove dead mangrove in creeks

Mira Bhayander: MBMC gets nod to remove dead mangrove in creeks

Wimbledon appealing $1 million fine from WTA over ban on Russian players

Wimbledon appealing $1 million fine from WTA over ban on Russian players

Uddhav Thackeray accuses BJP of plotting to finish Shiv Sena; dares it to hold mid-term polls in...

Uddhav Thackeray accuses BJP of plotting to finish Shiv Sena; dares it to hold mid-term polls in...

Maharashtra live updates: We will always be Shivsainiks of Balasaheb and Anand Dighe, says Eknath...

Maharashtra live updates: We will always be Shivsainiks of Balasaheb and Anand Dighe, says Eknath...