TTK Prestige Q2 net down 12% at Rs 30 cr; stock falls 5%

Kitchen appliances maker TTK Prestige's net profit fell by 12% to Rs 30 crore in the quarter ended September 2012 from Rs 34 crore in a year ago period.

Net sales rose by 10.5% to Rs 335.5 crore from Rs 303.5 crore during the same period. Operating margin went down by 100 basis points to 14.8% in the second quarter of FY13 from 15.8% in the previous quarter. T Jagannathan, chairman of TTK group of companies said raw material cost and depreciation in rupee impacted margins. At 14:19 hours IST, the share was trading at Rs 3,470, down 5.29% amid large volumes.