Wheels India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 01, 2022 at 05:21 am EDT
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Wheels India Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 11,891.2 million compared to INR 9,730.8 million a year ago. Revenue was INR 11,893.2 million compared to INR 9,737.4 million a year ago. Net income was INR 119.4 million compared to INR 205.8 million a year ago. Basic earnings per share from continuing operations was INR 4.96 compared to INR 8.55 a year ago. Diluted earnings per share from continuing operations was INR 4.96 compared to INR 8.55 a year ago.
For the six months, sales was INR 23,228 million compared to INR 17,021.8 million a year ago. Revenue was INR 23,266.8 million compared to INR 17,074 million a year ago. Net income was INR 221 million compared to INR 303.5 million a year ago. Basic earnings per share from continuing operations was INR 9.18 compared to INR 12.61 a year ago. Diluted earnings per share from continuing operations was INR 9.18 compared to INR 12.61 a year ago.
Wheels India Limited is an India-based manufacturer of steel, aluminum and wire wheels. The Company is engaged in the manufacturing of wheels for trucks, agricultural tractors, passenger vehicles and construction equipment; air suspension systems for trucks and buses, and industrial components for the construction and windmill industry with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand. Its segments include automotive components and industrial components. Its product categories include wheels, vehicle chassis and suspension, renewable energy components, fabricated and precision products, hydraulic cylinders, railway and aftermarket. Its vehicle chassis and suspension products include FTS 2 ton series, FTS 3 ton series and retraction system. The Company's renewable energy components include stiffening plate, torque plate, pitch plate and rotor lock disc. The Company provides hydraulic cylinders for energy equipment and off-road vehicles.