Wheels India Q3 net down at Rs 14.54 cr

CHENNAI: Automotive wheels major Wheels India Ltd closed the third quarter of FY23 with a lower net profit of Rs 14.54 crore.

According to Wheels India, the company has logged a net profit of Rs 14.54 crore for the period ended 31.12.2022 down from Rs 20.60 crore logged during the previous year corresponding period.

Revenue for the period under review stood at Rs 1,016.58 crore up from Rs 1,007.18 crore earned during the Q3 of FY22.

Srivats Ram, MD, said, “There has been strong growth of our air suspension orders servicing regular and EV (electric vehicle) buses, which helped us offset the slowdown in exports.”