ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September
  • EXCLUSIVE: 'Noida International Airport at Jewar to be jewel in crown of Indian aviation sector' - Know what all is coming up at
  • D-Street Corner: Market gains 2.7% in highly volatile week, investors richer by 5.5 lakh cr; what should investors do on Monday?
  • Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August
  • Netflix lays off 450 employees in two months—Here's what's bothering OTT giant
Read in App
Business News » Companies News

Wheels India posts 4th quarter net profit at Rs 19.7 crore

Steel wheels manufacturer Wheels India has recorded net profits for the January-March 2019 quarter at Rs 19.7 crore. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Wheels India posts 4th quarter net profit at Rs 19.7 crore
On capital expenditure plans, he said "while we targeted to invest Rs 122 crore, the company ended up investing Rs 144 crore driven by the demand from customers.

Steel wheels manufacturer Wheels India has recorded net profits for the January-March 2019 quarter at Rs 19.7 crore. The city-based TVS Group company registered net profits at Rs 19.5 crore during same period of previous year. For the year ending March 31, 2019 net profits of the company went up by 5.43 per cent to Rs 75.7 crore as compared to Rs 71.8 crore registered year ago. Revenues for the quarter ending March 2019 grew to Rs 855.1 crore from Rs 705.1 crore registered a year ago.

Revenues for the year ending March 2019 went up to Rs 3,188.8 crore, from Rs 2,517.1 crore registered year ago. The Board has recommended a final dividend of Rs 4.75 per share. With an interim dividend of Rs 3.25 per share declared earlier, the total dividend is Rs eight per share. Commenting on financial performance, company Managing Director, Srivats Ram while briefing reporters here Thursday said the revenue growth was driven by strong demand in all business segments during the first half of the year that necessitated ramping up of capacities.

"Our investments last year were in line with this demand and we have started operations in two new plants - multi axle plant and plant to serve wind energy requirements in Tamil Nadu," he said. He said strong growth in exports was a major factor in revenue growth last year, with exports now at close to 20 per cent of the sales. On the outlook for 2019-20, he said, they would be cautiously optimistic about this year's prospects. According to him, exports in 2018-19 grew substantially to Rs 608 crore from Rs 384 crore.

On capital expenditure plans, he said "while we targeted to invest Rs 122 crore, the company ended up investing Rs 144 crore driven by the demand from customers." "We will continue to invest in our business", he said. He said change in emission norms next year result in some amount of pre-buy in the market.

"Continued investment in infrastructural development could result in positive sentiment and that could spur growth," Srivats Ram said. Wheels India has manufacturing facilities in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand with a combined overall annual capacity of 10.3 million wheels. It has a customer base of 40 customers globally.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
TVS
Written By: PTI
Updated: Wed, May 29, 2019
05:59 pm
New Delhi, PTI
RELATED NEWS
TVS Supply Chain Solutions files draft papers with Sebi to mop up funds via IPO: Top points investors must know TVS Supply Chain Solutions files draft papers with Sebi to mop up funds via IPO: Top points investors must know
RS Filmcraft infuses Rs 5 crore in Go Digit General Insurance RS Filmcraft infuses Rs 5 crore in Go Digit General Insurance
 TVS Motor launches Marvel Spider-Man, Thor inspired TVS NTORQ 125 Scooters TVS Motor launches Marvel Spider-Man, Thor inspired TVS NTORQ 125 Scooters
TVS HLX motorcycle series crosses 20 lakh units in cumulative sales TVS HLX motorcycle series crosses 20 lakh units in cumulative sales
Mid Cap Stocks to Buy with Anil Singhvi: Jay Thakkar bullish on Zomato, TVS Srichakra and Aster DM Health shares—check target price and stoploss Mid Cap Stocks to Buy with Anil Singhvi: Jay Thakkar bullish on Zomato, TVS Srichakra and Aster DM Health shares—check target price and stoploss

LATEST NEWS

Indian markets should start its journey upward by October – know why? Analyst lists out 4 reasons

Zomato acquires 15-minute delivery platform Blinkit for Rs 4,447 cr

This Mukul Agrawal textile stock may grow over 52% on strong export outlook and government initiatives

Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August

Strong fundamentals, good dividend yield make Coal India, ONGC, NTPC, 3 other stocks good bets in current market—Check TPs, dividend payout ratios

How has technology changed the face of investing and what lies ahead? Analyst decodes

US one step away from historic gun law reforms

Government extends levy of GST compensation cess till March 2026, finance ministry issues notification

Auto major Ford extends production at Tamil Nadu plant till July-end

Two-thirds of MSME loan originations concentrated in Maharashtra, Tamil Nadu, and Delhi: Credit information company data

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV