Wendt India reports marginal dip in NP in q3

Wendt India, part of .8 billion Murugappa Group, reported a consolidated net profit at Rs 4.31 crore for the third quarter ending December 31, 2011, down by 13.6 per cent compared to hthe year ago period.

For the nine month period ending December 31, 2011, the consolidated net profit rose to Rs 15.41 Crore from Rs 13.06 crore registered during the same period of last year.

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The consolidated total income of the company for the third quarter grew to Rs 27.04 crore from Rs 25.17 crore.

For the nine month period ending December 31, 2011, the consolidated total income soared to Rs 83.42 crore from Rs 68.21 crore.

The company attributed the dip in their net profit to provisioning made towards "diminution in investment in their wholly owned subsidiary, Wendt Middle East and also due to lower margin on account of rising input costs and unfavourable product mix".

Besides, last year's devastating floods in Thailand also had an impact on the business of its wholly owned subsidiary, a company statement said.