Wendt India records consolidated PAT at Rs 41 lakh

Wendt India Ltd on Friday reported consolidated profits after tax at Rs 41 lakh for the April- June 30, 2020 quarter with COVID-19 outbreak hitting hard on the company's operations and revenues during the quarter. The company, part of the diversified conglomerate Murugappa Group had reported Rs 3.59 crore during corresponding quarter previous year. For the year ending March 31, 2020 consolidated profits after tax was at Rs 10.03 crore. Total income on a consolidated basis for the April-June quarter stood at Rs 24.07 crore as against Rs 40.72 crore registered in the same quarter last fiscal. For the year ending March 31, 2020 consolidated total income was at Rs 148.08 crore. In a statement,the company said following the COVID-19 outbreak and the subsequent lockdown enforced by the central and state governments, the operations in the company's manufacturing plant had to be shut down from March 23, 2020. The ensuing restrictions have had a significant impact on our operational and financial performance in the quarter, the company said. "Our revenue and profitability for the quarter (under review) were significantly impacted as compared to the same quarter previous year", the statement added
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