Wheels India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 01, 2023 at 04:56 am EDT
Share
Wheels India Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 12,837.8 million compared to INR 11,845 million a year ago. Revenue was INR 12,881.7 million compared to INR 11,846.8 million a year ago. Net income was INR 43.5 million compared to INR 113.6 million a year ago. Basic earnings per share from continuing operations was INR 1.78 compared to INR 4.65 a year ago. Diluted earnings per share from continuing operations was INR 1.78 compared to INR 4.65 a year ago.
For the six months, sales was INR 24,954.1 million compared to INR 23,114.9 million a year ago. Revenue was INR 25,019 million compared to INR 23,153.7 million a year ago. Net income was INR 141.4 million compared to INR 210.3 million a year ago. Basic earnings per share from continuing operations was INR 5.79 compared to INR 8.61 a year ago. Diluted earnings per share from continuing operations was INR 5.79 compared to INR 8.61 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.