Strong export growth boosts Wheels India net

  • 07-Feb-2019
  • Strong export growth boosts Wheels India net

Leading steel wheels manufacturer Wheels India Ltd. has posted an 18.28% rise in net profit for the third quarter ended December 2018 to ?15.27 crore compared to ?12.91 crore registered in the corresponding year-earlier period.

Revenues rose 32.77% to ?786 crore, from ?592 crore.

“There was a slowdown in the car and truck segments towards the latter part of the third quarter. However, the quarter saw strong growth in export markets,” said Srivats Ram, managing director, Wheels India.

About 80% of the firm’s business came from the domestic market, he said.

The company exported wheels, for off-road construction equipment and agricultural applications, to the U.S., Japan, Brazil, Korea, Europe and the U.K, Mr. Ram added.

In recent years, Wheels India had expanded its presence in the non-wheels segment. Over 65% of the firm’s revenue came from the automotive wheels for commercial vehicles, cars, and agricultural tractors, while the balance from wheels/components for construction and mining equipment, air suspension for commercial vehicles and components for energy equipment.

The board declared an interim dividend of ?3.25 per share.



Source :- Thehindu.com

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2020 www.seair.co.in. All Rights Reserved.