Wendt India posts profit growth for second quarter
28 October 2010
Wendt India, a joint venture between Murugappa Group of India and Wendt Gmbh of Germany, has announced a consolidated net profit growth of 64% to Rs. 4.52 crore. The operating income grew by notable 47% to Rs. 23.24 crore with strong growth on its machines and super abrasive segments. Wendt India has become a leader in Diamond / CBN grinding tools and machines for cutting tools and wire rod mills, as well as a comprehensive range of diamond / CBN products that cater to virtually every segment of the engineering industry. According to the company’s figures growth in superabrasive sales was 32% to Rs. 16.97 crore while machine sales rose 115% to Rs. 5.97 crore. For the half year to Sep 2010, the company’s consolidated operating income rose 60% to Rs. 43.04 crore on growth. On a standalone basis, the operating income grew by robust 55% to Rs. 38.24 crore.