TTK Prestige is trading higher by 3% at Rs 3,244 after the company said it has reported a healthy 29% year-on-year (y-o-y) growth in sales for the first quarter ended June 2012 (Q1).
“The topline for the first quarter ending June 30, 2012 is in the region of Rs 305 crore as compared to Rs 237 crore in the corresponding quarter of the previous year there by registering a growth of around 29%,” said T T Jagannathan, chairman of the company in his speech delivered on July 02, 2012 at the AGM of the company.
The company has already spent Rs 215 crore till date, out of Rs 300 crore on the overall capital expenditure including modernization / automation of certain processes in the existing facilities and the balance will be spent by the end of the current financial year.
“The company is expected to register significant growth in exports during the current year owing to the successful launch of Micro chef – the microwave compatible pressure cookers,” the chairman said.
The stock opened at Rs 3,182 and hit a high of Rs 3,245 on the National Stock Exchange. A combined 54,716 shares have changed hands on the counter so far on both the exchanges.