India's TTK Prestige posts lower profit as consumers tighten spending
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2024
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Source: reuters
- TTK Prestige Fourth Quarter Performance: TTK Prestige reported a slight decrease in fourth-quarter profit due to reduced consumer spending on non-essential items amidst inflationary pressures.
- Financial Figures: The company's net profit after tax was 574.2 million rupees, down from 580.1 million rupees in the previous year, while income from operations increased by nearly 2% to 6.23 billion rupees.
- Market Context: Demand for kitchen appliances was subdued during the quarter, especially for economy-range products, impacting sales. However, there was an increase in demand for air coolers and air conditioners with the onset of summer.
- Dividend Recommendation: TTK Prestige board proposed a dividend of 6 rupees per share.
- Peer Comparison: Butterfly Gandhimathi Appliances, a competitor, reported a loss in the March quarter compared to a profit in the same period last year.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
