Kitchenware maker TTK Prestige reported a 29% rise in fourth-quarter profit before tax and exceptional items on Friday, as strong domestic demand, helped by a shift toward induction cooking appliances amid liquefied petroleum gas supply constraints boosted earnings.
* The company’s reported profit rose to ₹53.89 crore for the quarter ended March 31 from ₹45.38 a year ago.
* In the year ago quarter, it booked a one-time impairment charge of ₹71.4 crore related to its UK subsidiary, Horwood Homewares, amid continued stress in the UK economy and concerns over potential U.S. tariffs.
* Demand for kitchen appliances was supported by rising adoption of induction and electrical cooking appliances amid LPG supply constraints stemming from the war in the Middle East.
* Domestic sales rose 14.4% to ₹668 crore while exports fell to ₹12.1 crore in the quarter from ₹20.48 crore a year earlier, hit by disruptions in global shipping routes and tariff-related challenges.
* Analysts at HDFC Securities said kitchen appliances are likely to post healthy growth, driven by rising induction cooktop adoption amid gas shortages.
* Revenue from operations rose 12% to ₹729 crore.
* Shares of the company rose 5.2% after it reported results.