Wheels India Q1 net falls 24%

The company had reported a net profit of Rs 8.93 crore for the corresponding period last year

Auto-component manufacturer Wheels India has reported a 24% decline in its net profit at Rs 6.78 crore for the first quarter ended June 30, 2013.

 

The Chennai-based company had reported a net profit of Rs 8.93 crore for the corresponding period last year, Wheels India said in a BSE filing.

 

For the financial year ended March 31, 2013, the net profit of the company stood at Rs 31.88 crore.

 

The total income from operations for the quarter under review dipped to Rs 450.13 crore from Rs 519.61 crore registered during the same period a year ago.

 

For FY 2013, the total income from operations stood at Rs 1,924.50 crore.

 

Shares of the company were trading at Rs 666 apiece, up 2.10%, in the afternoon trade on BSE.