(Reuters) -Indian kitchenware maker ttk prestige reported a 39% fall in fourth -Quarter Profit on Tuesday, as Rural Volumes Remained Under Pressure Dude to Reduced lending lending by Microfinance
The company is reported a profit before tax and exceptional items of 453.8 million rupees ($ 5.32 million) in the Quarter Ended March 31, Down from 745.2 Million Rupees a year.
It booked a one-time impairment charge of 714 million rupees related to its subsidiya, horwood homewares, on continued stress in the uk economy, and the thought of Tariffs from the Us Possibly Compounding that, ttk said.
Its shares were down Nearly 6% after the results.
Overall revenue from operations rose near 4.3% to 6.5 billion rupees, while total expenses increasing 9.5%.
For further earnings highlights, click here.
Microfinance lenders have been Issuing fewer collectral-face small loans to borrowers in the rural parts of the country, amid rain default rates, Following a Period of Perioding in the segment.
Ttk prestige, which has a “significant share of sales” from rural areas, said it is see a slowdown in rural volumes as a result.
While its sales from traditional channels, which include stores and e-commerce green 10.2%, the sales hit in rural areas pulled overall growth down to 2.7%.
Higher aluminum prices during the Quarter also impacted Performance, Said Ttk.
Valuation (Next 12 Estimates (Next 12 Analysts’
Ric Pe Ev/ Ebi Price/ Revenue Profit Mean No. of stock to div
Tda sales growth (%) growth (%) rating* analyst price yield
TTK PRETIGE 36.27 24.66 8.95 25.05 Hold 4 0.88 0.88
Voltas 37.87 30.48 2.19 11.56 19.51 Buy 33 0.87 0.44
Havells India 53.66 35.47 3.92 14.14 21.29 Buy 24 0.88 0.64
Crompton Greaves 34.00 21.78 2.38 10.89 19.15 Buy 30 0.82 0.84
* The meaning of analyst ratings standardized to a scale of strong boy, boy, hold, sell, and strong sell
** The ratio of the stock’s last close to analysts’ mean price target; A ratio Above 1 means the stock is trading about the pt
January to March Stock Performance
– $ 1 = 85.3790 Indian Rupees
(Reporting by ananta agarwal in Bengaluru; editing by