Auto components maker Wheels India Ltd is looking at cutting planned capital expenditure by 25 percent this financial year because of an increase in interest costs, Managing Director Srivats Ram said on Tuesday.
“The second quarter profit number was impacted especially by interest cost increase,” Ram said at a virtual conference.
Asserting that the cost of money had gone up substantially, he said: “We are looking at holding back some of the CapEx for the moment.
Wheels India had planned to spend Rs. 200 crore in capital expenditure this year and is cutting it by about 25 percent.