TTK Prestige has dipped 6% to Rs 3,454 on reporting 10% year-on-year (yoy) drop in net profit at Rs 30.28 crore for the second quarter ended September 2012, due to higher raw material and interest cost. Net sales grew 11% at Rs 336 crore on y-o-y basis.
The cost of raw material increased by 35% at Rs 95 crore, while finance cost surged over two-fold to Rs 3.59 crore from Rs 1.26 crore during the recently concluded quarter. Operating profit margins has declined by almost 200 basis points to 14.8% from 16.51%.
“Due to hike in fuel prices and inflation in prices of articles of daily consumption, the consumer sentiment has been affected since July 2012,” TTK Prestige said in a filing.
The stock opened at Rs 3,670 and hit a low of Rs 3,436 on the BSE. A combined 232,484 shares have changed hands on the counter so far on both the exchanges.
