The company registered revenues of Rs 1058 crore for quarter under review compared to Rs. 1131 crore in the same quarter the previous year.
Srivats Ram, MD, Wheels India 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.”
Wheels India expects the domestic demand to improve in the commercial vehicle wheel segment in Q4. Exports have fallen this year due to cyclicity in off-road product ranges, but it is expected to grow in the coming year through new product programmes.
The board approved an interim dividend of Rs 4.50 per share.
