Wendt India Q1 PAT up 30% at ₹7 crore

Chennai: Murugappa group company Wendt (India) clocked a standalone profit after tax (PAT) of nearly ₹7 crore in Q1FY22-23, up 30% year-on-year but down -13 % quarter on quarter. The company’s standalone sales stood at nearly ₹43 crore, up 16% over the corresponding quarter of the previous year.
Domestic sales were at nearly Rs 32 crore up 17% than the year ago period.“This is on account of higher sales to almost all user industries like auto, steel, refractories, glass, bearings, blade and ceramics among others,” said the company in a statement. Exports stod at Rs11 crore up 14% over last Q1. “This is on account of higher exports to USA, Germany, Italy, Spain,” said the statement. “The company’s operational efficiency measures like elimination of wastes and rejection, improving productivity, developing alternate vendors towards supply chain disruption, and focus on cost control has led to growth in the profitability,” the statement further added.
On a Sequential basis (QoQ), though, the standalone sales for the quarter was lower by 2%. On a consolidated basis, the company’s sales stood at ₹47.5 crore up 13% YoY with the PAT of ₹7.2 crore up 21% over the year ago period. On a sequential basis (QoQ), the consolidated PAT was lower by 3%.
Rajesh Khanna, non-executive director of the company retired from the board at the Annual General Meeting held on Friday. Khanna has been associated with the company for about four decades. TNN