During the quarter, the Company resorted to marginal price increases for some of its key products to offset the commodity cost escalation and maintain its margins
Hit by inflation and reduced consumer spending with the demand remaining sluggish post-festive sales in October, TTK Prestige, an Indian kitchenware maker has registered a 6.4 per cent year-on-year (YoY) reduction in the consolidated net profit for the third quarter of the current financial year (Q3FY25).
The company’s unaudited consolidated financial results revealed a net profit of Rs 58.45 crore (attributable to the owners) in Q3FY25, compared to Rs 62.48 crore in Q3FY24. Prestige exclusives and ecommerce did relatively well during this quarter amid the festive season, but general trade and modern format growth were muted.
The company’s revenue from operations marked a dip as well and went down to Rs 727.23 crore during Q3FY25 as compared to Rs 738.40 crore during the corresponding period of the last fiscal. The Aluminium prices continued with its increase during the quarter due to worldwide shortage. The company stated that it is expected to be at around this increased level for the rest of the year.
Domestic Sales were at Rs 651.3 crore in Q3FY25 as compared to Rs 667.8 crore in Q3FY24. The earnings before interest, tax, depreciation and amortisation (EBITDA) during the quarter was Rs 90.1 crore as compared to Rs 103 crore in Q3FY2. The EBITDA margin was 13.5 per cent.
The alternate channels viz. rural channel dependent on MFI and institutional channel, which is a significant share of sales for the company, was badly affected in the last few quarters. The traditional channel grew by 3 per cent during the quarter, but the alternate channel pulled down the overall growth for the quarter.
During the quarter the Company resorted to marginal price increases for some of its key products to offset the commodity cost escalation and maintain its margins.
