TTK Prestige slips 4% on profit booking
Shares of pressure cooker and kitchen ware maker TTK Prestige are witnessing profit-booking, down over 4% or by Rs. 167, and are currently trading at Rs. 3,920, as a reaction to 15% YoY decline in net profit during first quarter ended 30th June 2015.
While revenue rose 4% QoQ to Rs. 349 crore, EBITDA slipped 4% sequentially to Rs. 41 crore, leading to contraction in EBITDA margin to 11.7% from 12.6% YoY. Rising input costs, by 80 basis points YoY hurt operating margins. Thus bottomline fell 15% YoY to Rs. 22 crore, leading to EPS of Rs. 18.86, as against Rs. 22.17 clocked in Q1FY15 and Rs. 79.31 earned in FY15.
In the past 10 trading sessions, share price of TTK Prestige had moved over 15%, rising from lows of 3,800 to as much as Rs. 4,400 on NSE on Tuesday. Post the dull results, stock is witnessing profit booking, which is rightly so.