Industry

Wendt India posts 101% jump in Q3 net proft

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.


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Printable version | May 28, 2022 9:59:48 am | https://www.thehindu.com/business/Industry/wendt-india-posts-101-jump-in-q3-net-proft/article38303174.ece