Moneycontrol
Last Updated : Dec 05, 2017 10:41 AM IST | Source: Moneycontrol.com

Steel Strips Wheels gains 3% as November sales turnover increases 34%

Steel Strips Wheels achieved total wheel rim sales of 12.92 lakh against 11.99 lakh in November 2017, representing a growth of 8 percent YoY.

 
 
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Steel Strips Wheels share price rallied more than 3 percent intraday Monday as sales turnover in November increased 34 percent on year-on-year basis.

The company said it achieved total wheel rim sales of 12.92 lakh in November 2017 against 11.99 lakh in November 2016, representing a growth of 8 percent YoY.

The volumes of truck segment helped post highest healthy revenue growth for the company, it added.

In terms of value, the company has achieved gross turnover of Rs 172.75 crore in November 2017 against 128.62 crore in November 2016, there by recording a growth of 34 percent and achieved net turnover of Rs 138.85 crore in November 2017 against Rs 115.25 crore in November 2016, recording a growth of 20 percent.

"The record turnover is driven by record growth in truck segment and we expect this trend to continue going ahead," Steel Strips Wheels said.

At 10:54 hours IST, the stock price was quoting at Rs 1,031.15, up Rs 22.70, or 2.25 percent on the BSE.
First Published on Dec 4, 2017 11:03 am
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