Wheels India Q3 Net Profit up 72% at Rs. 20.6 crores

Steel Wheels manufacturer Wheels India Ltd., has registered a 72% rise in its Net Profit for the Q3 ended 31st December 2021 at Rs. 20.60 crores as compared to Rs. 12 crores registered in the corresponding quarter of the previous year. Revenues for Q3 ended 31 December 2021 went up 57% to Rs. 1007.18 crores as compared to Rs. 641.74 crores registered in Q3 ended 31st December 2020.

Contribution from exports continued to rise and stood at just over 26% of the overall sales at the end of Q3.

Commenting on the performance, Srivats Ram, MD, Wheels India Ltd., said "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 CV segment saw a slowdown in November and December, we expect the CV business to improve in Q4."

Shares of Wheels India Limited was last trading in BSE at Rs. 701.30 as compared to the previous close of Rs. 716.05. The total number of shares traded during the day was 2664 in over 264 trades.

The stock hit an intraday high of Rs. 725.00 and intraday low of 692.40. The net turnover during the day was Rs. 1880210.00.

Source : Equity Bulls

Keywords

WheelsIndia INE715A01015 9MFY22 Q3FY22 FinancialResults