Latest News | Wendt India Reports Standalone Q3 Net at Rs 6.76 Crore

Chennai, Jan 21 (PTI): Manufacturers of super abrasives, machine tools and precision components Wendt India reported a standalone profit at Rs 6.76 crore for the quarter ending December 31, 2021, the company said on Friday.

The Murugappa Group firm reported standalone net at Rs 3.37 crore during corresponding quarter previous year. For the nine month period ending December 31, 2021, standalone profit grew to Rs 19.13 crore from Rs 6.94 crore registered a year ago.

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Total income on standalone basis grew to Rs 39.48 crore from Rs 32.03 crore registered during same period last fiscal. For the nine month period ending December 31, 2021, standalone total income went up to Rs 120.16 crore from Rs 84.18 crore.

In a statement, the company said its Board of Directors have recommended an interim dividend of Rs 20 per share (200 per cent on face value of equity share of Rs 10 each) at their Board meeting held on Friday.

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The company said it achieved sales (on standalone) of Rs 36.04 crore during the quarter under review which was 19 per cent higher than the corresponding period last year. The domestic sales recorded during the quarter was at Rs 27.73 crore higher 12 per cent over the corresponding quarter last year.

"This is on account of higher sales to major user industries like engineering, steel, cutting tools, bearings", it said.

Exports was at Rs 8.31 crore during the quarter ending December 31, 2021, higher by 51 per cent over the corresponding quarter previous year, the statement added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)