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Wheels India net profit rise at INR 19.5 crore in Q4 2018

Auto News - Published on Thu, 31 May 2018

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Steel wheels manufacturer Wheels India Ltd has registered a 12.7 per cent rise in the Q4 net profits ending March 31, 2018 to INR 19.5 crore. The city-based TVS Group company recorded net profits of INR 17.3 crore in the corresponding quarter last year.

Revenue for the quarter under review went up by 26.6 per cent to Rs 705 crore from INR 557.7 crore recorded during the previous quarter, including net excise duty.

For FY2017-18, revenue grew to INR 2,469.5 crore, up by 13.4 per cent from INR 2,176.1 crore registered a year ago.

Declaring the annual performance, company Managing Director Mr Srivats Ram said the company expects to clock double digit growth this year.

Mr Ram said that "There has been strong signs of growth in the commercial vehicle industry. Mining (industry) is showing some signs of life. Actually, we are seeing double digit growth in the segments we are present in."

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Posted By : Rabi Wangkhem on Thu, 31 May 2018
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