Butterfly Gandhimathi shares surge on strong net profit numbers

Merger between Butterfly Gandhimathi Appliances and Crompton Greaves is underway, the company said.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Butterfly Gandhimathi Appliances shares were up 2.32 percent at Rs 1,204 at 10.01 am after reporting a middling set of numbers for the June quarter.

Net profit increased 11 percent year-on-year to Rs 15 crore but revenues were down 14 percent year-on-year to Rs 219 crore in the April-to-June quarter.

Revenue for the Butterfly Gandhimathi Appliances fell 14 percent year-on-year to in Q1FY24.  Earnings Before Interest, Tax Depreciation and Amortisation declined 24 percent to Rs 20 crore year-on-year in the same period.

The company said its market position remained relatively unchanged despite demand challenges in the industry.

The stock has lost 22 percent since January 1.

Follow our live blog for more updates 

“Through our focus on channel restructuring, we continue to drive sustainable growth in B2C channels such as retail outlets, modern trade, chain stores and e-commerce, while de-risking non-core channels,” said Rangarajan Sriram, Managing Director, Butterfly Gandhimathi Appliances. He further said that improvement in channel mix and value engineering has led to a revenue of Rs 219 crore.

Merger between Butterfly Gandhimathi Appliances and Crompton Greaves is underway, the company said.

Butterfly Gandhimathi Appliances has four core products: mixer grinders, pressure cookers, gas stove, wet grinders, and small domestic appliances.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.