TTK Prestige Q3 profit up 30% to 57 cr

TTK Prestige Q3 profit up 30% to 57 cr

Chairman of TTK Group T T Jagannathan.

Kitchen appliances firm TTK Prestige on Monday reported a 30% increase in net profit at Rs 56.84 crore for the third quarter ended December 31, 2018. The company's net profit in the corresponding quarter was Rs 43.67 crore.

TTK Prestige's total income stood at Rs 558.63 crore in the third quarter, an increase of 20% compared to Rs 461.62 crore.

In the third quarter of this fiscal, the company's total sales grew by 23% from Rs 487 crore to Rs 598 crore and exports grew by 14.4% from Rs 8.39 crore to Rs 9.60 crore. 

The company's EPS grew by about 30% from Rs 37.81 to Rs 49.21. TTK Prestige in the third quarter has recorded the highest ever Q3 sales and the company also recorded the highest ever EBIDTA for any quarter. 

In a BSE filing, it said that most markets recorded double-digit growth including Tamil Nadu, which was partially affected by Gaja cyclone and deficient monsoon. 

The company plans for deeper penetration into non-south markets. While the company's appliances sales witnessed 29% at Rs 297 crore compared to Rs 230 crore in the corresponding quarter, its cookers sales witnessed 14% growth at Rs 189 crore compared to Rs 166 crore.

The company has a positive outlook for the rest of the year. Shares of the company are trading 1.83% down at Rs 7,646.50 on Monday.