TTK Prestige's Q4FY16 standalone net profit jumps over two folds yoy to Rs.21.62 crore : Misses Estimates

The company’s standalone revenue stood at Rs. 307.72 crore, up 7.52% yoy but down 31.29% qoq.

May 23, 2016 12:21 IST | India Infoline News Service
TTK Prestige, India's Largest Kitchen Appliance Brand, reported standalone net profit of Rs.21.62 crore for the quarter ended March 31, 2016, registering growth of 121.52% yoy, but decline of 41.88% qoq. The company’s revenue stood at Rs. 307.72 crore, up 7.52% yoy but down 31.29% qoq.

Its standalone core operating profit of Rs. 33.75 crore for the quarter, clocked growth of 83.72% yoy but decline of 41.8% qoq. Operating profit margin for the current quarter at 10.97% expanded by 455 bps yoy but contracted by 198 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 114.82 crore, growing by 24.37% yoy. Its standalone revenue for the period stood at Rs. 1,525.12 crore, registering growth of 9.86% yoy.

TTK Prestige's core operating profit stood at Rs. 182.47 crore, recording growth of 22.27% yoy. Operating margin for the current period at 11.8% expanded by 105 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 307.72 333.3 [7.67]
Standalone Net Profit 21.62 24.4 [11.39]

Standalone EPS for the quarter stood at Rs. 18.57.

Bloomberg estimated the company’s standalone net profit at Rs. 20.19 crore.

Stock Commentary:

TTK Prestige Ltd is currently trading at Rs. 4566.45, up by 217.65 points or 5% from its previous closing of Rs. 4348.8 on the BSE.

The scrip opened at Rs. 4426 and has touched a high and low of Rs. 4648.35 and Rs. 4400 respectively. So far 5646(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5062 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4970.95 on 29-Dec-2015 and a 52 week low of Rs. 3520.7 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 4430 and Rs. 4307 respectively.

The promoters holding in the company stood at 70.37 % while Institutions and Non-Institutions held 21.9 % and 7.72 % respectively.

The stock is currently trading below its 50 DMA.

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