Wendt (India) Q2 Profits Surge 19% to Rs 10.69 cr

Chennai, Oct 22 (PTI) Wendt (India) Ltd, an abrasive and precision component manufacturer, has reported consolidated net profits of Rs 10.69 crore for the July-September 2024 period, up by 19.44 per cent on the back of higher sales to user industries and increase in exports, the company said.

The Murugappa Group company registered consolidated net profits of Rs 8.95 crore during the corresponding quarter of last financial year.


For the six month period ending December 31, 2024 the consolidated profits grew to Rs 18.37 crore, from Rs 17.97 crore registered in the same period of last year.


The consolidated total income during the quarter under review stood at Rs 58.44 crore, from Rs 52.67 crore registered in the same quarter of last year. For the half year period ending September 30, 2024 the total income was at Rs 109.45 crore, as against Rs 105.74 crore registered a year ago.


In a statement on Tuesday, the company said on a standalone basis the company achieved sales of Rs 50.55 lakh during the quarter ending September 30, 2024 which is 10 per cent higher than the corresponding quarter of last year.


The domestic sales during the quarter was Rs 39.37 crore, which was higher by 11 per cent than the corresponding quarter of previous financial year.


"This is on account of higher sales to user industries like auto, auto-ancillary, cutting tools, steel, bearings," the company said in the statement.


Exports made during the quarter under review were Rs 11.18 crore up by 8 per cent over the corresponding quarter of last year in the backdrop of higher exports to Russia, Germany, Indonesia, the United Kingdom, Italy, the statement added.