Diversifying export product base and focus on non-wheel business have enabled Wheels India sustain its performance during the second quarter of the current year, despite the low in the automobile industry. Wheels India has reported a net profit of Rs 8.73 crore on an income of Rs 465.38 crore during the July-September quarter. During the corresponding quarter in the previous year, the company reported a net profit of Rs 8.60 crore on an income of Rs 496.51 crore.

Srivats Ram, Managing Director, said nearly 19 per cent of its business was from exports and the devaluation of the rupee has contributed to increased income, apart from the company’s own initiative in expanding its range of exports. But with 60 per cent of its revenue from wheels for commercial vehicles and passenger cars which have been hit by a continuous slowdown, the company has been impacted. On the outlook for the next two quarters, he said the performance is bound to be modest with no immediate recovery in sight in the automobile sector. Growing exports, focus on non-wheel business and after-market segments will help mitigate the adverse conditions, he said.

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