Wendt India a manufacturer of abrasives and precision components, has posted a standalone profit for the July-September quarter at Rs 8.58 crore, the company said on Thursday.

In the last year the same quarter, the Murugappa group company registered a standalone profit of Rs 9.28 crore.

The company declared a standalone profit of Rs 17.26 crore for the six-month period ended September 30, 2023, up from Rs 16.22 crore in the same time last year.

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The standalone total income during the quarter under review stood at Rs 48.20 crore as against Rs 48.63 crore registered in the same period of last year.

For the six-month period ending September 30, 2023, the standalone total income went up to Rs 96.41 crore from Rs 92.27 crore registered during the corresponding period of last year.

During the quarter, the company said the exports dropped by 9 per cent to Rs 10.32 crore, because of lower offtake from some customers due to the global slowdown in the US, Taiwan, Russia, and Europe.

In another development, the Board has approved the appointment of Sridharan Rangarajan as an additional director (non-executive, non-independent) and C Srikanth as an additional director in the executive capacity of the board, subject to the approval of the members through postal ballot. The company said.