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Business News/ Companies / Company Results/  TTK Prestige posts higher profit on strong demand for cookware
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TTK Prestige posts higher profit on strong demand for cookware

TTK Prestige’s consolidated net profit rose 8.5% to ₹624.8 million during the October-December period

TTK Prestige, which competes with rival homeware maker Butterfly Gandhimathi Appliances and other domestic brands, has posted declining profit for the last five quarters. Photo: MintPremium
TTK Prestige, which competes with rival homeware maker Butterfly Gandhimathi Appliances and other domestic brands, has posted declining profit for the last five quarters. Photo: Mint

Bengaluru: Indian home appliances maker TTK Prestige reported a higher third-quarter profit on Tuesday, driven by strong demand for its cookware essentials.

Consolidated net profit rose 8.5% to 624.8 million ($7.5 million) during the October-December period, snapping five straight quarters of declining profit.

Revenue from operations climbed 6.3% to 7.38 billion.

Consumers bought more kitchen appliances during the festive and wedding periods, which coincided with the third quarter.

TTK Prestige, which competes with rival homeware maker Butterfly Gandhimathi Appliances and other domestic brands, has posted declining profit for the last five quarters as inflation bit into the budgets of households.

Butterfly posted a loss for the third quarter on Monday. 

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Published: 06 Feb 2024, 07:34 PM IST
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