Q1FY19 Result: TTK Prestige reports 17 per cent revenue growth

TTK Prestige on Wednesday reported earnings result for the first quarter of fiscal year 2019. Its revenue for the quarter came in at Rs. 418.87 crore, registering 17.2 per cent yoy increase. In terms of QoQ basis, the company’s revenue remained almost flat as it was in the preceding quarter. 

EBITDA for the quarter rose by 24.1 per cent yoy to Rs. 55.47 crore with a corresponding margin expansion of 74 bps. EBITDA margin for the quarter stood at 13.2 per cent. On a QoQ basis, EBITDA declined marginally by 4.1 per cent with corresponding margin contraction of 60 bps from the last quarter. 

The PAT for the quarter came in at Rs. 35.9 crore, yoy decline of 73.2 per cent. This was due to one-time gain of Rs. 129 crore in the corresponding quarter of last year. On QoQ basis, net profit declined marginally by 3.1 per cent. 

During the company's AGM, the management expressed that the company will double its current domestic turnover in the next 5 years and also will pursue inorganic opportunities in India as well as aboard, which coupled with exports can add Rs.1,000 crores to domestic turnover by 2022. This will be done without compromising on healthy return on investments. Further, as part of its long-term strategy, the company has a capex plan of Rs. 250 crore to increase capacity and improve manufacturing facilities.