Steel Strips Wheels June net sales down 7%

Moneycontrol Bureau

Steel Strips Wheels' net sales in June decline 7% year-on-year to Rs 71.65 crore due to slower sales of wheel rims in the domestic market. The company sold 7.69 lakh steel wheel rims in June, compared with 8.58 lakh rims it sold a year ago. Its exports last month rose 5% to 1,42,586 wheel rims. Meanwhile, Steel Strips Wheels' net sales for the April-June quarter rose 12% from a year ago to Rs 254.23 crore. Steel Strips Wheels shares closed down 0.9% at Rs 188.20 on NSE on Tuesday.