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Va Tech Wabag dissolves Brazilian arm

Capital Market 

The unit did not have any business activity.

VA Tech Wabag said it has liquidated its Brazilian subsidiary, VA Tech Wabag Brazil Servicos De Agua E Saneamento. It was not a material subsidiary and did not have any business activity, the company announced after market hours yesterday, 6 October 2020.

VA Tech Wabag designs and builds water and sewage treatment plants. Its consolidated net profit surged 687.5% to Rs 5.04 crore on 5.6% decline in net sales to Rs 430.87 crore in Q1 June 2020 over Q1 June 2019.

Shares of VA Tech Wabag were down 0.68% at Rs 191.15.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, October 07 2020. 09:22 IST
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