Steel wheels manufacturer Wheels India has clocked a 38.75 per cent rise in its net profits for the quarter ending June 30, 2018 at Rs 18.01 crore as against the Rs 12.98 crore registered in the corresponding period of the previous year.
Total revenues of the TVS Group company for the quarter ending June 30, 2018 grew to Rs 746.28 crore as compared to Rs 611.05 crore registered during the year-ago period.
The city-based company which is setting up a new greenfield factory along with Tokyo-headquartered car steel wheels maker Topy Industries, in a statement here said it had commenced production at the facility.
The new plant at Vanod, Gujarat has a capacity to produce 1.50 million passenger car steel wheels.
Commenting on the financial performance, the company's Managing Director, Srivats Ram said, "all our business segments have done well in the first quarter with high capacity utilisation."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app