Wendt India Q3 net profit up 69% to ₹11.45 cr. on increased sales

January 18, 2023 04:35 pm | Updated 05:50 pm IST - CHENNAI

Wendt India Ltd, a Murugappa group firm, has reported a 69% jump in its standalone net profit for the third quarter ended December to ₹11.45 crore on increased sales on account of higher sales to almost all user industries such as auto, auto ancillaries, engineering, steel, bearings and glass.

During the quarter under review, revenue from operations increased by 29% to ₹46.91 crore. Super abrasives accounted for ₹32.75 crore, machines and accessories ₹6.53 crore and precision products ₹7.63 crore, the super abrasives maker said in a regulatory filing.

Exports rose by 47% to ₹12.21 crore on account of higher offtake from countries such as the U.S., Russia, Indonesia, the U.K. and Spain.

On January 18, the Board announced the reappointment of C. Srikanth as CEO for a period of two years from July 1 and declared an interim dividend of ₹30 per share. It will be paid by February 14.

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