Murugappa group company Wendt’s Q3 profit after tax declines 14%

CHENNAI: Murugappa group company Wendt’s standalone third quarter net profit declined 14% to Rs 7.87 crore from Rs 9.15 crore in the same period last year. Revenue from operations was flat from nearly Rs 50 crore last Q3 to just under Rs 49 crore this year. Quarter on quarter the drop was sharper given that Q2 tally was Rs 51.21 crore. Profit before tax came down from Rs 12.42 crore to Rs 10.16 crore. The comparative figure for Q2 was Rs 12.89 crore.In quarter two of the current fiscal, the company reported a net profit of Rs 10.5 crore.