TTK Prestige Sees 29 Percent Rise in Fourth-Quarter Profit

Indian kitchenware maker TTK Prestige reported a 29 percent rise in fourth-quarter profit before tax and exceptional items on Friday. The strong domestic demand, driven by a shift toward induction cooking appliances amid liquefied petroleum gas supply constraints, contributed to the company's earnings.

The company's reported profit rose to 538.9 million rupees ($5.62 million) for the quarter ended March 31 from 453.8 million rupees a year ago. This significant increase is attributed to the growing adoption of induction and electrical cooking appliances in the face of LPG supply constraints stemming from the war in the Middle East.

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Domestic sales rose 14.4 percent to 6.68 billion rupees while exports fell to 121 million rupees in the quarter from 204.8 million rupees a year earlier, hit by disruptions in global shipping routes and tariff-related challenges. Revenue from operations also increased by 12 percent to 7.29 billion rupees. Shares of the company rose 5.2 percent after it reported results.

Analysts at HDFC Securities have predicted that kitchen appliances are likely to post healthy growth, driven by rising induction cooktop adoption amid gas shortages. The company's strong performance in the fourth quarter is a testament to its ability to adapt to changing market conditions and capitalize on emerging trends in the kitchenware industry.