Wheels India Q3 net profit surges 79% to ₹22.57 crore, revenue down 6%
The Hindu
Wheels India Ltd reports 79% increase in net profit for Q3 2024, plans to boost exports in the coming year.
Wheels India Ltd for the third quarter ended December 31, 2024, reported net profit of ₹22.57 crore compared with ₹12.58 crore in the year ago period, up 79%.
The company during the quarter registered revenues of ₹1,058 crore as compared with ₹1,131 crore in the same period last year, down 6%. The Board has approved an interim dividend of ₹4.50 per share.
Srivats Ram, MD, Wheels India Ltd., said, “In terms of the strong profit growth in Q3, we continued to be benefitted by lower raw material prices, favourable product mix and productivity & cost improvements.”
“We expect the domestic demand to improve in the CV wheel segment in Q4. While our exports have fallen this year due to cyclicity in off-road product ranges, we hope to grow our exports in the coming year, through new product programmes,” he added.
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