Wendt (India), a joint venture between Wendt GmbH of Germany and Carborundum Universal of the Chennai-based Murugappa Group, has achieved sales of Rs.22.15 crore during the quarter ended June 30, 2012, which is almost at the last year’s level.
The profit after tax was lower by 23 per cent over the corresponding period in the previous year at Rs. 3.08 crore.
The lower profit was on account of higher raw material cost, unexpected rise in fuel cost and the continuance of the inflationary trend in the economy apart from expenditure incurred on nation-wide new marketing initiative, the company said in a release. The high rupee volatility also contributed to the lower margin.
On a consolidated basis, the company’s sales stood at Rs. 25 crore with the profit after tax at Rs. 3.80 crore.
