Wendt’ Standalone Q2 Sales up by 7% & PAT up by 60%
Deepthi | Myequity news | Date : 24-10-2018 14:30:00 IST
Wendt (India) Ltd announced the unaudited financial results for the quarter and half year ended 30th Sept’2018.
On a standalone basis, the Company achieved sales of Rs.3514 lakhs during the quarter ended 30th Sept’2018 which is 7% higher than the corresponding period of last year. The domestic sales have been at Rs.2451 lakhs, which is 6% higher than the corresponding period of last year. The major industry segments which attributed to the growth of the domestic business were auto, auto ancillaries, steel, bearings etc. The export was 11% higher than the corresponding period of last year at Rs.1063 lakhs. This was due to higher sales to Germany, Singapore, Russia, Indonesia, UAE, Thailand etc.
Accordingly, the Profit After Tax (PAT) for the current quarter has been higher by 60% at Rs.446 lakhs. The good results in the form of revenue and net profit growth has been primarily on account of higher volumes, operational efficiencies, and product mix.
On a consolidated basis, Company’s sales stood at Rs. 4094 lakhs for the current quarter which is 12% higher than the corresponding period of last year with the PAT of Rs.460 lakhs, which is 74% higher than the corresponding period last year. About Murugappa Group:
Founded in 1900, the INR 329 Billion Murugappa Group is one of India's leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd.