New Delhi, Oct 29 (PTI) Wheels India’s consolidated net profit for the July-September quarter nearly doubled to Rs 59.4 crore, driven by strong revenue growth.
The automotive wheels manufacturer had reported a net profit of Rs 30.9 crore in the year-ago period, the company said in a regulatory filing on Thursday.
The company’s revenue from operations increased 35.36 per cent year-on-year to Rs 1,710.95 crore in the second quarter of the current fiscal, compared to Rs 1,263.97 crore in the year-ago period.
"The second quarter saw strong sales growth coming from earthmover wheels, air suspension and the domestic Indian markets for cars, trucks and tractors," said Wheels India Chairman and Managing Director Srivats Ram.
Exports grew to Rs 388 crore from Rs 299 crore in the year-ago period, the company said in a release.
Ram noted that demand sentiment in the overseas market has been positive with exports to the US growing by 50 per cent.
"Interestingly, we benefitted from the AI and Data Centre boom. The data centres are massive in the US and you need to dig to build. The surge in construction equipment also arose from that," he said.
Meanwhile, Ram said the company raised its capex for the financial year 2026-27 to Rs 400-450 crore. Earlier, the company had earmarked Rs 300 crore as capex for the year. Annual capex has been around Rs 250 crore in the last two years.
Wheels India sees input cost inflation as a concern in the second half of FY27, amid rising steel and fuel costs, though the company expects demand to be strong.
"While inflation is a concern with rising steel and fuel costs, most segments that we are in remain strong and we expect growth to continue. We are seeing some festive season build-up already and the demand is not bad," Ram added.
Chennai-based Wheels India makes wheels, chassis and suspension products, and fabricated products for the renewable energy space.
(This story has not been edited by THE WEEK and is auto-generated from PTI)