Wheels India expects domestic wheel biz to pick-up

CHENNAI: Wheels India, manufacturer of wheels for trucks, tractors, passenger vehicles and construction equipment, expects the domestic wheel business to pick up during the second half of the year, according to a top official. The city-based company had registered a 24.2 per cent rise in its net profit for the April-June 2023 quarter at Rs 13.3 crore, from Rs 10.7 crore registered in the same period of last year. Revenues during the quarter under review grew by 6.74 per cent to Rs 1,124 crore, from Rs 1,053 crore recorded in the corresponding period of last year.