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Wendt India Ltd. reported a standalone net profit of ₹5.97 crore for the fourth quarter ended March on higher sales to user industries such as auto ancillaries, refractories and glass. The company had recorded a net loss of ₹1.09 crore in the year-earlier period.
During the period, gross sales rose 83% to ₹40.59 crore, the Murugappa Group firm said in a regulatory filing.
For the year ended March, domestic sales rose 7% to ₹86.22 crore,
Exports for FY21contracted 18% to ₹32.78 crore mainly on account of lower demand due to continued slowdown and lockdowns imposed in view of the second wave of COVID-19 reported in the U.K., the U.S. and other European countries.