Steel Strips Wheels (SSWL) jumped 4.31% to Rs 1074.80 after the company's net profit increased 14.7% to Rs 51.08 crore in Q1 FY22 as against Rs 44.55 crore in Q4 FY21.
Revenue from operations, however, declined 3.1% to Rs 678.12 crore in Q1 FY22 compared with Rs 699.87 crore in Q4 FY21.
Profit before tax in Q1 FY22 stood at Rs 62.74 crore, up 16% from Rs 54.09 crore in Q4 FY21.
In the same period last year, the company recorded a net loss of Rs 38.09 crore and revenue of Rs 120.26 crore in Q1 FY21.
SSWL is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.
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