 "Steel Strips Wheels bags $ 55 mn order from US-based Elio Motors")
Wheels India Ltd reported a net profit of Rs 7.43 crore for the second quarter ended September 30, 2020. The company had reported a net profit of Rs 28.67 crore in corresponding period of the last year. The company said that these numbers were not comparable as the net profit in Q2FY20 included a one-time write back of deferred tax liability of Rs.19.80 crore.
The company reported a revenue of Rs 510.84 crore in Q2FY21 compared to the Rs 595.63 crore reported in the same period last year.
Earlier this week, the company began production at a newly commissioned cast aluminum wheel
