"For the fourth quarter, we will target to achieve a volume sale of 35.6 lakh as compared to 33.24 lakh achieved in third quarter of the current fiscal, representing a growth of 7 percent," Steel Strips Wheels Ltd (SSWL) said in a regulatory filing.
The Chennai-based firm had recorded a net profit of Rs 5.16 crore during corresponding quarter last year.
"The Board of Directors at its meeting held today have approved in-principle, an investment of a sum not exceeding USD eight million in tranches by the company in a die-casting facility proposed to be established in United States," Sundaram-Clayton said in a BSE filing.
Total income from operations for the January-March 2015 period dipped to Rs 210.54 crore from Rs 248.12 crore registered during same period of previous year.
The auto component manufacturer's profit was expected at Rs 265 crore on revenue of Rs 8,679 crore for the quarter, according to a CNBC-TV18 poll.