Wheels India Q1 net profit at Rs 10.7 cr

CHENNAI: Steel Wheels manufacturer Wheels India Ltd., has registered a net profit of Rs 10.7 cr for the Q1 ended 30 th June 2022 as compared to Rs 10.1 cr registered in the corresponding quarter last year. Revenues for Q1 ended 30 th June 2022 increased to Rs. 1057.1 crores as compared to Rs. 675.1 crores registered in Q1 ended 30 th June 2021. Srivats Ram, MD, Wheels India, said “The demand for trucks, agricultural tractors and passenger vehicles in India was healthy, albeit with semiconductor shortages affecting some segments. There was a notable growth in the CV segment from the low base of the previous year,” as per a company release.