Steel Strips Wheels jumped 9.86% to Rs 502 after the company's net profit jumped 82.55% to Rs 14.02 crore on a 11.78% rise in revenue from operations to Rs 404.73 crore in Q2 FY21 over Q2 FY20.
Profit before tax in Q2 September 2020 stood at Rs 15.48 crore, up by 106.4% from Rs 7.50 crore in Q2 September 2019.
"The company has resumed domestic and export sales, the demand in business will turnaround post COVID with robust growth expected going forward," SSWL said in its notes to accounts.
Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry.
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