Wendt (India) Ltd. a maker of super abrasives, has reported a 101% increase in its stand alone net profit for the third quarter ended December to ₹6.76 crore on improved sales over the corresponding year-ago period.
The Murugappa group firm achieved sales of ₹36 crore, an increase of 19% over than the corresponding period last year.
The domestic sales was higher by 12% at ₹28 crore, due to higher sales to major user industries such as engineering, steel, cutting tools and bearings among others, while exports by 51% to ₹8 crore, it said in a regulatory filing.
For the nine month period, it achieved total sales of ₹113.60 crore, which was higher by 45% and net profit by 176% to ₹19 crore.
The company declared an interim dividend of ₹20 per share.
On Friday, shares of the company gained ₹157.05 to close at ₹5,400.65 on BSE.
