Wheels India Net Rises 38%

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Wheels India net rises 38%

Wheels India Ltd. has reported a 38% jump in net profit for the quarter ended June 2018, to Rs. 18.01 crore from Rs. 12.98 crore in the year-earlier period.

Revenue for the quarter under review increased by 22% to Rs. 746.28 crore.

“All our business segments have done well in the first quarter with high capacity utilization,” Srivats Ram, MD, said. “The growth was strong on a year-on-year basis due to a weak quarter a year earlier, which was prior to the introduction of the GST. We expect all segments of our business to do well for the rest of the year,” he said. Wheels India has expanded its presence in the non-wheels segment.

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