Wheels India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 01, 2022 at 05:21 am EDT
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Wheels India Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 11,891.2 million compared to INR 9,730.8 million a year ago. Revenue was INR 11,893.2 million compared to INR 9,737.4 million a year ago. Net income was INR 119.4 million compared to INR 205.8 million a year ago. Basic earnings per share from continuing operations was INR 4.96 compared to INR 8.55 a year ago. Diluted earnings per share from continuing operations was INR 4.96 compared to INR 8.55 a year ago.
For the six months, sales was INR 23,228 million compared to INR 17,021.8 million a year ago. Revenue was INR 23,266.8 million compared to INR 17,074 million a year ago. Net income was INR 221 million compared to INR 303.5 million a year ago. Basic earnings per share from continuing operations was INR 9.18 compared to INR 12.61 a year ago. Diluted earnings per share from continuing operations was INR 9.18 compared to INR 12.61 a year ago.
Wheels India Limited is engaged in manufacturing steel, aluminum, and wire wheels. Its segments include Automotive Components and Industrial Components. The Industrial Components segment includes components and structures for windmills, railways and thermal power plants. Its products include wheels, vehicle chassis and suspension, fabricated and precision products, products for wind energy, products for railways and hydraulic cylinders. Its vehicle chassis and suspension products include FTS 2 ton series, FTS 3 ton series, FLS 4 ton series, FTS 6 ton series and others. Its range of wheels includes passenger & light cargo vehicles, trucks, trailers & buses, agricultural & farm equipment, off-road vehicles and defense vehicles. It offers bus and truck chassis, suspension products, hydraulic cylinders, custom-fabricated assemblies, and precision components for wind turbines. Its R&D engineers envisage groundbreaking designs at its facilities, using labs to validate and test their ideas.