Inflation Impacts TTK Prestige's Profit Amid Rural Market Slump

TTK Prestige reported a 6.83% decrease in net profit to Rs 57.35 crore for Q4 2024, attributed to sluggish demand due to inflation impacting rural sales. Revenue dropped by 1.51% to Rs 727.23 crore. Aluminium prices rose globally, affecting costs while container shortages delayed shipments.

TTK Prestige, a leading kitchen appliance and cookware manufacturer, experienced a significant downturn in financial performance for the last quarter of 2024. The company reported a net profit decline of 6.83 percent, totaling Rs 57.35 crore, largely due to decreased demand in rural markets impacted by inflation.

The company's revenue from operations fell 1.51 percent to Rs 727.23 crore compared to the previous year's same quarter. The company highlighted challenges in institutional sales and increased e-commerce competition, while food-price inflation and micro-financial institution issues also affected rural sales.

Further exerting pressure on the company, the cost of aluminium, a critical raw material, rose globally due to shortages. Despite robust orders, TTK Prestige faced delays in shipments due to container non-availability. In the stock market, TTK Prestige's shares dropped nearly eight percent to Rs 735.20.

(With inputs from agencies.)