TTK Prestige tanks post Q4 earnings
Posted net profit at Rs 20 crore in March quarter against Rs 35 crore in previous quarter
TTK Prestige has tanked 19% to Rs 2,840 on reporting lower-than-expected 19% year-on-year (y-o-y) growth in net profit at Rs 20 crore for Q4FY12.
The analyst expected a net profit of Rs 25 crore from the houseware maker. The company had a net profit of Rs 35 crore in the previous quarter.
Meanwhile, the company's net sales increased by 28% to Rs 232 crore on y-o-y basis, while earnings before interest tax depreciation and amortization (EBITDA) margin improved from 13.1% to 13.6% during the recently concluded quarter.
A combined 311,100 shares have changed hands on the counter so far, against an average 135,000 shares that were traded daily in past ten trading days on the NSE and BSE.