Wheels India records strong net profit of Rs 25cr in Q1 due to cost control

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Wheels India records strong net profit of Rs 25cr in Q1 due to cost control - Business Standard

Quick Summary:

Leading manufacturer of wheels for trucks, tractors and passenger vehicles Wheels India Ltd has reported a net profit of Rs 25.37 crore for the April-June 2024 quarter, thanks to cost control measures and change in the product mix, a top official of the company has said.

"A change in the product mix, increased focus on cost control and some improvement in the CV (commercial vehicles) business has contributed to the strong profit in Q1," Wheels India Ltd MD Srivats Ram said.

The city-based company had recorded a net profit of Rs 13.22 crore in the corresponding quarter last year.