Wendt India's Profits Soar Amid Export Boost and Industry Demand

Wendt (India) Ltd, a component manufacturer under the Murugappa Group, recorded a 19.44% increase in net profits during July-September 2024, credited to higher sales and export growth. The company's profit for the six months ending December 2024 rose to Rs 18.37 crore from Rs 17.97 crore the previous year.

Wendt (India) Ltd, a leading manufacturer of abrasive and precision components, has announced a significant rise in its net profits for the July-September 2024 quarter. The company, part of the prestigious Murugappa Group, reported consolidated net profits of Rs 10.69 crore, marking a 19.44% surge compared to the same period last year, attributed to increased sales and export activities.

The company's consolidated profits for the six-month period ending December 31, 2024, also saw an increase to Rs 18.37 crore from Rs 17.97 crore recorded in the previous year. Moreover, the consolidated total income for the latest quarter was reported at Rs 58.44 crore, up from Rs 52.67 crore during the same period last year.

The growth was primarily driven by higher sales in user industries such as automotive, cutting tools, and steel, alongside an uptick in exports to markets like Russia, Germany, and the UK. On a standalone basis, the company's quarterly sales stood at Rs 50.55 lakh, reflecting a 10% increase from the previous year's corresponding quarter. Domestic sales saw an 11% rise, while exports escalated by 8%, enhancing the company's global footprint.

(With inputs from agencies.)