Wendt India 3qtr net remains flat Rs 2.56 Cr

: Murugappa Group company Wendt India today said net profits for the third quarter ending December 31, 2016 almost remained flat at Rs 2.56 crore.

The company had registered consolidated net profits at Rs 2.54 crore during corresponding period of previous year.

For the nine month period ending December 31, 2016 consolidated net profits rose by 8.24 per cent to Rs 9.45 crore from Rs 8.73 crore registered during same period of last year.

Consolidated total income from operations for the October-December 31, 2016 quarter went upto Rs 38.91 crore from Rs 35.53 crore registered during the year ago period.
 

For the nine month period ending December 31, 2016 total income from operations grew to Rs 116.72 crore from Rs 107.30 crore registered during the corresponding period last year.

In line with the previous years, the Board of Directors have recommended an interim dividend of Rs 10 per share -- 100 per cent on face value of equity shares of Rs 10 each.

Stating that the industry segments engineering, cutting tools, refractories, automobile, ceramics, attributed for the sales growth in the domestic market, the company said exports grew by seven per cent to Rs 8.03 crore during the quarter ending December 31, 2016.

The increase in exports was on account of higher offtake from countries like USA, Thailand, Russia, Switzerland, Spain.