Wheels India Q1 net up over two-fold at Rs 7.19 cr

NEW DELHI: TVS Group company Wheels India Ltd today posted an over two-fold increase in its net profit for the first quarter ended June 30, 2011 at Rs 7.19 crore.

For the three months ended June 30, 2010, the company's net profit stood at Rs 2.84 crore, it said in a filing to the Bombay Stock Exchange (BSE).

Its net sales in the April-June quarter increased by 19.50 per cent to Rs 459.27 crore, compared to Rs 384.31 crore in the same period of last financial year.

Wheels India's scrips closed at Rs 279.80, up 1.97 per cent from previous close on the BSE.