Wendt India Q1 net falls 14% on declining sales volume
Wendt India Ltd.’s (WIL) standalone net profit for the June quarter contracted 17% from the year-earlier period to ₹7 crore.
Revenue from operations slid to ₹44 crore from ₹46 crore, the Murugappa group firm said in a regulatory filing.
WIL deals in three business segments. The revenue from super abrasives was flat at ₹33 crore, while it jumped by 26% in machines and accessories to ₹7 crore and de-grew by 22% in precision products to ₹6 crore.
WIL announced the appointment of Bhagya Chandra Rao as Chairman from July 24, following the retirement of Shrinivas G. Shirgurkar, after completion of his second term as independent director on July 23.
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