Press Release21 May 2024, 04:13 pm
Wheels India Ltd Reports 64.3% Profit Growth in Q4, 24.5% Increase in Exports for FY24
AI Summary
Wheels India Ltd announced a 64.3% rise in net profit for Q4 ended March 31, 2024, reaching Rs. 36.8 crores. The full-year net profit was up 8.6% to Rs. 67.9 crores. Exports grew by 24.5% in FY24, with major contributors being earthmover wheels, aluminium wheels, hydraulic cylinders, and air suspension business in the bus market. The Board recommended a dividend of Rs. 7.39 per share.
Key Highlights
- Wheels India reports a 64.3% increase in net profit for Q4 ended March 31, 2024, reaching Rs. 36.8 crores.
- Full-year net profit grew by 8.6% to Rs. 67.9 crores.
- Exports registered a 24.5% growth in FY24.
- Major contributors to export growth were earthmover wheels, aluminium wheels, hydraulic cylinders, and air suspension business in the bus market.
- The Board of the Company recommended a dividend of Rs. 7.39 per share.