Steel Strips Wheels Ltd's Q3FY25 Quarter Results
- 22 Jan 2025
Result Summary
- Steel Strips Wheels Ltd reported a 1.9% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a decline of 3.3%.
- Its expenses for the quarter were down by 2.2% QoQ and 2.9% YoY.
- The net profit increased 3.5% QoQ and decreased 19.7% YoY.
- The earnings per share (EPS) of Steel Strips Wheels Ltd stood at 3 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 1075.05 | 1095.59 | 1111.99 | -1.9% | -3.3% |
Total Expenses | 1010.52 | 1033.75 | 1041.19 | -2.2% | -2.9% |
Profit Before Tax | 64.52 | 61.84 | 70.79 | 4.3% | -8.9% |
Tax | 16.63 | 15.82 | 11.26 | 5.1% | 47.7% |
Profit After Tax | 47.71 | 46.11 | 59.41 | 3.5% | -19.7% |
Earnings Per Share | 3.00 | 2.90 | 3.80 | 3.4% | -21.1% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Steel Strips Wheels Ltd is a prominent player in the automotive industry, primarily engaged in the manufacturing of steel wheel rims. These wheel rims are supplied to the automotive sector, including passenger cars, utility vehicles, and commercial vehicles. The company has established itself as a key supplier to various original equipment manufacturers (OEMs) in the automotive sector. Recent developments in the industry include advancements in wheel design and production technology, although specific developments related to Steel Strips Wheels Ltd are not available in the provided data.
Revenue
In the third quarter of fiscal year 2025, Steel Strips Wheels Ltd reported a total income of ₹1075.05 crores. This marks a decrease of 1.9% compared to the second quarter of fiscal year 2025, where the total income was ₹1095.59 crores. On a year-over-year basis, there was a decline of 3.3% compared to the same quarter in the previous fiscal year, which recorded a total income of ₹1111.99 crores. This trend suggests a contraction in revenue generation over both the quarter-on-quarter and year-over-year periods.
Profitability
The company recorded a profit before tax of ₹64.52 crores in Q3FY25, which represents an increase of 4.3% compared to ₹61.84 crores in the previous quarter. However, on a year-over-year basis, there was a decline of 8.9% from ₹70.79 crores in Q3FY24. The tax expense for the quarter was ₹16.63 crores, reflecting a 5.1% increase from the previous quarter and a significant 47.7% rise compared to the same quarter last year. Consequently, the profit after tax for the third quarter of FY25 was ₹47.71 crores, showing a 3.5% increase from the prior quarter but a 19.7% decrease from the year-ago period. Earnings per share (EPS) for Q3FY25 stood at ₹3.00, which increased by 3.4% from Q2FY25, although it declined by 21.1% compared to Q3FY24.
Operating Metrics
The total expenses for Steel Strips Wheels Ltd in the third quarter of FY25 amounted to ₹1010.52 crores, which is a 2.2% reduction from the previous quarter's ₹1033.75 crores. On a year-over-year basis, total expenses decreased by 2.9% compared to ₹1041.19 crores in Q3FY24. These figures suggest a decrease in operating expenses over the stated periods. The balance between total income and total expenses indicates that although there were reductions in both income and expenses, the company's profitability metrics showed slight improvements on a quarter-over-quarter basis, but declined on a year-over-year basis.
