TTK Prestige slips in volatile trade after weak Q4 results

TTK Prestige fell 2.14% to Rs 3,840 at 14:19 IST on BSE after net profit dropped 62.76% to Rs 9.76 crore on 5.01% increase in total income to Rs 287.24 crore in Q4 March 2015 over Q4 March 2014.

The result was announced during trading hours today, 27 May 2015.

Meanwhile, the BSE Sensex was down 45.63 points, or 0.17%, to 27,485.78

On BSE, so far 84,696 shares were traded in the counter, compared with an average volume of 6,323 shares in the past one quarter.

The stock saw high intraday volatility. The stock hit a high of Rs 4,080 and a low of Rs 3,565.65 so far during the day. The stock hit a record high of Rs 4,830 on 28 August 2014. The stock hit a 52-week low of Rs 2,989 on 27 February 2015.

The mid-cap company has an equity capital of Rs 11.64 crore. Face value per share is Rs 10.

TTK Prestige said that Q4 March 2014 net profit included one time income of Rs 8 crore. Earnings before interest, taxation, depreciation and amortization (EBITDA) before exceptional items and CSR expense declined 23.15% to Rs 22.53 crore in Q4 March 2015 over Q4 March 2014. TTK Prestige booked CSR expenditure of Rs 3.13 crore in Q4 March 2015. Impact on account of overhead absorption in stock movement was Rs 4.46 crore in Q4 March 2015, the company said. Adjusted EBITDA margin before one time impact fell to 7.7% in Q4 March 2015 from 10.5% in Q4 March 2014.

Going forward, TTK Prestige said that acceleration in growth depends on improvement in consumer sentiment, growth through launch of new upgraded models in all categories, leveraging on-line opportunities to expand customer base, margin improvement by driving internal efficiencies and better utilization of new capacities through exports.

TTK Prestige is India's largest kitchen appliances company.

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