TTK Prestige posted strong revenue figures for the first quarter of FY23, increasing 68 per cent year-on-year (y-o-y) to ₹599.73 crore from ₹356.92 crore in the year-ago period.

The kitchenware and cookware company reported net profit of ₹57.63 crore, a 111.79 per cent y-o-y increase compared to ₹27.21 crore in June 2021.

Cookers contributed 32.36 per cent of revenue at ₹194.08 crore, cookware contributed 17.61 per cent at ₹105.64 crore, appliances contributed 45.38 per cent, the highest at ₹272.17 crore, and others contributed 4.64 per cent at ₹27.84 crore. EBITDA went up by 89.2 per cent to ₹89.61 crore (₹47.36 crore).

Improvement is seen in some of the key sectors like real estate, automobiles and entertainment, which are expected to further support the demand by triggering employment opportunities and yielding a larger customer base, said the company. However, TTK Prestige estimates the rate of growth in Q2 to be lower, given the high base in FY21. However, this is as planned and the growth rates are expected to improve in the second half.

TTK Prestige announced an earnings per share (EPS) of ₹4.16 per equity share with a face value of ₹1 against ₹1.96 in Q1 FY22. The total Prestige Xclusive chain strength stands at 666 in 377 towns.