Enkei Wheels Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 01:40 pm IST
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Enkei Wheels (India) Limited reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was INR 1,766.93 million compared to INR 1,594.06 million a year ago. Revenue was INR 1,859.55 million compared to INR 1,682.71 million a year ago. Net income was INR 80.4 million compared to net loss of INR 45.26 million a year ago. Basic earnings per share from continuing operations was INR 4.47 compared to basic loss per share from continuing operations of INR 2.52 a year ago. Diluted earnings per share from continuing operations was INR 4.47 compared to diluted loss per share from continuing operations of INR 2.52 a year ago.
For the six months, sales was INR 3,091.26 million compared to INR 3,300.63 million a year ago. Revenue was INR 3,196.82 million compared to INR 3,425.71 million a year ago. Net income was INR 36.39 million compared to INR 43.76 million a year ago. Basic earnings per share from continuing operations was INR 2.02 compared to INR 2.43 a year ago. Diluted earnings per share from continuing operations was INR 2.02 compared to INR 2.43 a year ago.
Enkei Wheels (India) Limited is an India-based company that is engaged in manufacturing of aluminum alloy casting wheels (âproducts), which are being used in automotive segment of the industry in India. It also has warehouses in the states of Rajasthan, Gujarat, and Karnataka. The Company is subsidiary of Enkei Corporation, Japan. The Company has two products, which include aluminum alloy wheels for two-wheelers and aluminum alloy wheels for four-wheelers. The Company's products are mainly used in utility vehicles and mid-size car segments. It has a manufacturing unit located in Pune. The Company has a production capacity of approximately 120,000 wheels per month in 2W and 110,000 wheels per month in 4W.