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Wheels India stock up by 16% as net profit doubles

WIL's net profit for the first half year ended September 2017 went up to Rs 38.48 crore from Rs 27.05 crore

Car wheels
Car wheels

Wheels India surged by 16.42 per cent on Tuesday. The stock price rose to Rs 1,915.55 a share, up by Rs 270.20 a day after it reported that the net profit doubled to Rs 25.85 crore for the quarter ended September 2017. A TVS Group company, Wheels India, said that its revenue rose to Rs 606.72 crore from Rs 589 crore. The company also said as part of the ongoing strategic business decision, Wheels India has formed a JV with Japan-based Topy Industries to set up a plant in Gujarat. WIL's net profit for the first half year ended September 2017 went up to Rs 38.48 crore from ...