TTK Prestige tumbles 3 pc following slump in Q3 profit

Shares of TTK Prestige dropped

over 3 per cent on the bourses today after the kitchen

appliances maker reported 20.10 per cent fall in net profit

for the quarter ended December 31, 2016.

On BSE, the stock settled at Rs 5,770, down 3.07 per cent

from the previous close. It had opened at Rs 5,955 and tumbled

to a low of Rs 5,675.70 in the intra-day trade.

The scrip lost 3.12 per cent on NSE and ended at Rs 5,770.

After opening at Rs 5,980, it had touched an intra-day low of

Rs 5,661.30.

Following the decline in the counter, the market

capitalisation of the company fell by Rs 218.33 crore to Rs

6,716.97 crore.

On the volume front, 1,911 shares of the firm were traded

on BSE while 18,282 shares changed hands on NSE.

TTK Prestige today reported a 20.1 per cent fall in net

profit at Rs 29.72 crore for the quarter ended December 31, on

account of lower sales.

The company had posted a net profit of Rs 37.2 crore

during the corresponding period of the previous fiscal.

Total income from operations stood at Rs 428.2 crore, down

2.06 per cent, from Rs 437.22 crore in the year-ago period.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)