New Delhi: Wheels India Ltd, a maker of wheels for automobiles, has reported a net profit of Rs 14.54 crore for the quarter ended December 31, 2022, the company said on Thursday. The city-based firm had registered a net profit of Rs 20.60 crore during the corresponding quarter of the previous year. For the nine months ended December 31, 2022, the net profit stood at Rs 40.34 crore as against Rs 51.93 crore a year ago, said a company statement.
The revenue during the quarter under review increased to Rs 1,016.58 crore from Rs 1,007.18 crore registered in the same period last year. For the nine-month period ending December 31, 2022, revenue rose to Rs 3,182.50 crore from Rs 2,593.01 crore in the previous fiscal. ,Also read: LIC plan: Rs 1800 per month investment gives Rs 8 lakh returns – check maturity, premium calculator here,
The board of directors, which met here recently, had declared an interim dividend of Rs 3 per share. The company said exports accounted for over 22 per cent of total revenue at the end of the quarter. ,ALSO READ: Google layoffs 2023: Ali Neel was on mental health leave, received dismissal mail at 2 am,
The company’s Managing Director Shrivatsa Ram said, “There has been a strong growth in our air suspension orders for servicing regular and electric vehicle buses, which has helped us overcome the slowdown in exports.”
On the budget presented by the Center on Wednesday, he said the budget reflects consistency and consistency in policies, whether it is pushing capex (capital expenditure) to the extent of 3.3 per cent of GDP from 4.5 per cent for FY26 Whether to maintain fiscal deficit or focus on inclusiveness and efficiency.
“The credit guarantee scheme for MSMEs and tax exemption for the hardworking middle class, recognizing the need for support in difficult times. Overall, the budget was prudent while building the nation’s capabilities and capacities in the Amrit Kaal,” he said in another Said. Statement.