 "TTK Prestige buys UK's Horwood as it expands global business")
TTK Prestige has surged 9% to Rs 4,735 on the BSE after reporting over 100% rise in March quarter net profit at Rs 21.62 crore, on the back of strong operational performance.
The company engaged in houseware business had profit of Rs 9.76 crore in year ago quarter.
Net sales of the company rose 7.7% at Rs 308 crore against Rs 286 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin stood at 11.67% in Q4FY16 as against 6.62% in Q4FY15.
TTK Prestige said the growth recovery was seen in Tamil Nadu in spite of December floods. "Though there was growth in many markets, the rate of growth was affected by severe drought conditions," it added.
At 01:56 PM, the stock was up 8% at Rs 4,700 as compared to 0.37% rise in S&P BSE Sensex. A combined 98,534 shares changed hands on the BSE and NSE so far.
The company engaged in houseware business had profit of Rs 9.76 crore in year ago quarter.
Net sales of the company rose 7.7% at Rs 308 crore against Rs 286 crore in the corresponding quarter of previous fiscal.
EBITDA (earnings before interest, taxes, depreciation and amortization) margin stood at 11.67% in Q4FY16 as against 6.62% in Q4FY15.
TTK Prestige said the growth recovery was seen in Tamil Nadu in spite of December floods. "Though there was growth in many markets, the rate of growth was affected by severe drought conditions," it added.
At 01:56 PM, the stock was up 8% at Rs 4,700 as compared to 0.37% rise in S&P BSE Sensex. A combined 98,534 shares changed hands on the BSE and NSE so far.
