Wheels India registers 38% fall in Q4 net profit

Wheels India has registered fall of 37.56% in its net profit of Rs 7.05 crore for the quarter ended March 31, 2012 as compared to Rs 11.29 crore during the same period the previous fiscal. However, the total income increased 21.95% to at Rs 578.37 crore during the quarter under review, from Rs 474.26 crore for the corresponding period last year.

For the fiscal year 2011-12, the company has posted a growth of 39.41% to Rs 34.35 crore as against Rs 24.64 crore registered in the previous year.

The company said that the net profit for the period is not comparable, since there was a one-time provisioning on the tax front.