Wheels India Ltd. reported a net profit of ₹10.13 crore for the quarter ended June, driven by strong export demand in almost all its business segments.
The firm had incurred a loss of ₹38.23 crore in the year-earlier period. Total revenue more than doubled to to ₹675 crore.
“The lockdown following the second wave of the pandemic resulted in severe demand and supply restrictions in May followed by recovery in June,” said Srivats Ram, MD.
“The steep rise in steel price remains a concern and we hope there is some moderation in commodity prices in the latter part of the year,” he added.
