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Va Tech Wabag dissolves Brazilian arm

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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