Wheels India 3Q net profit drops 54 pc to Rs 4.12 crore

Auto-component manufacturer Wheels India reported net profit declined more than 50 per cent to Rs 4.12 crore in the quarter ended December 31.
The Chennai-based TVS Group company's profit fell 54.2 per cent from Rs 9 crore in the corresponding period of the previous financial year, Wheels India said in a BSE filing.
Total income from operations in the third quarter declined to Rs 422.37 crore from Rs 440.95 crore a year earlier.
For the nine months ended December 31, profit slipped 26 per cent to Rs 19.63 crore, while total income from operations declined to Rs 1,337.88 crore from Rs 1,457.07 crore.

The company said an interim dividend of Rs 4 per equity share was paid to shareholders on January 11, as approved by the board of directors on December 25.
Wheels India shares gained 1.77 per cent to Rs 829 at the close on the BSE.