Wendt India Q1 results: Wendt India Q1 results: Co reports consolidated PAT at Rs 6 crore

Chennai: Super abrasives manufacturer Wendt India Ltd has reported a consolidated profit after tax at Rs 6 crore for the quarter ending June 30, 2021, the company said on Friday. The Murugappa Group company had reported consolidated profit after tax at Rs 41 lakh during corresponding quarter previous year.

For the financial year ending March 31, 2021, consolidated PAT was at Rs 12.77 crore, Wendt India said in a statement.

The consolidated total income for the quarter under review grew to Rs 43.38 crore from Rs 24.07 crore.

For the year ending March 31, 2021 consolidated total income stood at Rs 140.58 crore.

The company said that the Q1 performance of the company was not comparable with last year’s Q1 which was impacted due to COVID-19 enforced lockdowns.

The domestic sales during the quarter was Rs 27.13 crore which was higher than the corresponding quarter previous year. It was on account of higher sales to almost all user industries like auto, auto ancillaries, steel, engineering cutting tools, the company said.

Exports during the quarter under review grew by 51 per cent to clock Rs 9.70 crore due to higher shipments to the United States, Russia, Thailand, Singapore, Germany,the statement added.