Wheels India Limited reported a mixed set of consolidated results for the December quarter, with profitability improving sharply on a year-on-year (YoY) basis even as topline growth remained under pressure.
On a consolidated basis, revenue from operations for Q3 stood at ₹1,124.86 crore, compared with ₹1,186 crore in the corresponding quarter last year, reflecting a decline of about 5.1% YoY.
Despite the softer revenue performance, profitability saw a strong improvement. Profit before tax (PBT) for the December quarter rose to ₹48.53 crore from ₹33.42 crore in Q3 last year, marking a robust 45.2% YoY growth.
Net profit attributable to the group increased significantly to ₹36.89 crore in Q3, compared with ₹25.48 crore a year ago. This translates into a solid 44.8% YoY growth in consolidated net profit, highlighting improved earnings quality despite lower revenue.
On the cost side, total consolidated expenses for the quarter rose to ₹1,330.93 crore from ₹1,094.73 crore in the year-ago period, an increase of around 21.6% YoY.
