Last Updated on January 20, 2024 by BFSLTeam BFSLTeam
On January 19, 2024, Wendt India Limited (BSE, NSE: WENDT) announced its Q3 2023-24 results, recording Consolidated Sales at ₹15535 lakh, and PAT at ₹2757 lakh.
Additional Read: Q3 Results Dashboard
Result Takeaways
Here are the key highlights of Q3 results for Wendt India Limited:
- For Q3 FY24, on a consolidated basis, the Company’s sales were at ₹5413 lakh, up 6% versus the same quarter of the previous financial year.
- Domestic sales witnessed growth. This is due to higher sales to nearly all user industries like auto ancillaries, auto, engineering, bearings, steel, and glass.
- The Profit After Tax (PAT) stood at ₹960 lakh, a drop of 5% relative to the corresponding quarter of the previous financial year.
- The rise in Profit in Q3 FY24 is primarily due to higher sales and consistent focus on operational efficiency measures and cost control.
- On a sequential basis (QoQ), the consolidated sales for Q3 FY24 rose by 7%
- In Q3 FY24, and at the end of a 9-month period of FY24, the Company’s Total Sales reached ₹15535 lakh, up by 3% compared to the corresponding period of the previous fiscal year.
- The Board of Directors of the Company has announced an interim dividend of ₹30/- per equity share (of face value of ₹10 per share).
- Exports during the 3rd quarter rose by 47%, to ₹12.21 Cr on account of a higher offtake from Russia, the United States, Indonesia, Spain and the United Kingdom.
Q3 FY24 Result Summary
Wendt India Limited is a Murugappa Group company that is engaged in technology solutions in the area of grinding. With its diverse product portfolio, it is on the verge of increasing its client base consistently over quarters. The products that the company is engaged in manufacturing are precision grinders and these serve different industries and sectors in the market.
In Q3 FY24, the Company displayed resilient performance in its Sales in a seasonally weak quarter. This can only boost the Company’s performance and operations of business in the coming quarter, preparing the Company for a positive outlook in the next fiscal year.
Additional Read: Wendt India Share Price
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Source: Wendt India Press Release – BSE