TTK Prestige’s net profit for the fourth quarter shrank by 25 per cent to ₹59.5 crore compared to ₹80 crore in the same quarter last year.
The kitchen appliance major saw its net revenues drop by 12.33 per cent year-on-year (y-o-y) to ₹611.0 crore compared to ₹697.5 crore in Q4 FY22. For the entire year, the net revenues grew by 2 per cent to ₹2,822.8, while the PAT stood at ₹254.2, reduced by 16.6 per cent compared to ₹304.8 crore in FY22.
Domestic sales for the entire year grew by 5 per cent to ₹2,556 crore compared to ₹2,434 crore in FY22, while export sales dropped by 29.5 per cent to ₹69.7 crore.
Also read: TTK Prestige expects revenues from contract manufacture to grow four-fold by FY26
The Board recommended a dividend of ₹6/- per share of the face value of ₹1/- each, i.e., 600 per cent, for the financial year 2022–23, which shall be paid or dispatched within 21 days from the date of the AGM, subject to the approval of the shareholders, according to a company’s exchange filing.
For Q4, it announced an EPS of ₹4.29 per equity share with a face value of ₹1 each.
During the quarter, it invested ₹10 crore in Ultrafresh Modular Solutions Limited (Ultrafresh) and increased its shareholding to 51 per cent, and Ultrafresh became a subsidiary of TTK Prestige.