: Murugappa Group company, Wendt (India) Ltd, has recorded a 135.5 per cent rise in its consolidated profit after tax for the quarter ending June 30, 2018 at Rs 5.37 crore.
The company, engaged in manufacture of super abrasives, clocked consolidated profit after tax of Rs 2.28 crore during corresponding quarter of previous year.
For the year ending March 31, 2018 consolidated profit after tax stood at Rs 13.13 crore.
Total income for the three-month period ending June 30, 2018 grew to Rs 42.68 crore from Rs 36.05 crore registered during year ago period.
For the full year ending March 31, 2018 total income stood at Rs 151.49 crore.
The company said the Chairman M M Murugappan has stepped down from the Board due to his pressing commitments after he took over as the Executive Chairman of the Murugappa Group.
At its meeting today, the Board elected Shrinivas G Shirgurkar as its Chairman replacing Murugappan.
Shares of the company ended at Rs 3,076.50 apiece, up by 7.85 per cent over the previous close in BSE.
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