Wendt India Q2 net rises 22% to ₹10.5 cr. on higher sales

Wendt India reported standalone net profit for the September quarter rose 22% to ₹10.5 crore from the year-earlier period on account of higher sales to almost all user industries.

The Murugappa group company’s revenue from operations increased 10% to ₹50.55 crore, of which exports constituted ₹11 crore.

Exports were higher by 8%, which was on account of higher outbound shipments to Germany, Russia, U.K., Indonesia and Italy, the company said in a statement.

Revenue from super abrasives rose by ₹4 crore (₹38 crore) while that of machines and accessories increased by ₹66 lakh to ₹6 crore. Precision products revenue contracted to ₹7.30 crore (₹7.45 crore).