(20 second reading) Driven by better product mix, low aluminium prices and improved exports, Wheels India has registered just over 64% rise in net profit for Q4FY24 at nearly Rs 37 crore compared to Rs 22.4 crore in the year ago period. Revenues at Rs 1167 crore for Q4 were however, a little lower than the Rs 1,172 crore in Q4FY23.
For the full year FY 2023-24, net profit was up 8.6% at nearly Rs 68 crore compared to Rs 62.5 crore in FY23. Revenue for the full year increased 6.3% to Rs 4619 crore compared to Rs 4345 crore in FY23. The company has announced a total final dividend of Rs 7.39 per share.
Srivats Ram, MD, Wheels India, said that the company has lined up capex of over Rs 200 crore for FY25.