Auto Parts & Equipment company Wheels India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: The company registered a 64.3% rise in its Net Profit for Q4FY24 at Rs 36.8 crore compared to Rs 22.4 crore registered in the corresponding quarter of the previous year. The company registered revenues of Rs 1,167 crore for Q4FY24 compared to Rs 1,172 crore in the Q4FY23 FY24 Financial Highlights: The net profit for the FY24 was up 8.6% at Rs 67.9 crore as compared to Rs 62.5 crore registered in the previous year ended 31st March 2023. Revenues for the FY24 increased 6.3% to Rs 4,619 crore compared to Rs 4,345 crore registered in the previous year ended 31st March 2023. The Board of the Company has recommended a dividend of Rs 7.39 per share. Commenting on the performance, Srivats Ram, MD, Wheels India, said, “Exports did well for us in FY24 registering a 24.5% growth. Earthmover wheels, aluminium wheels and hydraulic cylinders were the prime drivers of growth on the export front. The company’s air suspension business did well along with growth in the bus market” On the newer segments for Wheels India, Srivats said “We have been able to profitably ramp up machining of windmill castings and will continue to grow this. Another area with a lot of promise for growth, both in the domestic and export markets, is hydraulic cylinders.” On the Outlook, Srivats said, “We are cautiously optimistic about the prospects for FY25. New programmes with global customers are likely to begin in Q4 of this year.” Result PDF