Automotive steel wheel designer and manufacturing company Steel Strips Wheels on Friday posted an increase of 28.4 percent in its net profit at Rs.15.03 crore for the quarter ended September 30 this year.
The net profit in the corresponding quarter in the last fiscal year stood at Rs.11.71 crore.
The company's total income from operations, however, fell by 5.2 percent at Rs.299.27 crore during the July-September time period in the ongoing fiscal year as against Rs.315.78 crore in the similar months in 2014.
Expenses also registered a decline by 6.2 percent at Rs.275.21 crore in the review-period as compared to Rs.293.54 crore in the year-ago period.
The steel wheel-maker produces passenger car wheels in Dappar (Punjab) and Oragadam (Chennai) and truck wheels in Jamshedpur (Jharkhand) with a consolidated capacity of 17 million wheels.
