Butterfly Gandhimathi Appliances on January 23 reported a 29.2 percent year-on-year rise in net profit at Rs 11.7 crore in the third quarter of the financial year 2022-23
The home-appliance maker recorded a net profit of Rs 9.1 crore in the year-ago quarter, the company said.
The growth in revenue, however, was largely flat at Rs 248.4 crore, one percent more than Rs 246 crore in the same quarter of the previous year.
The earnings before interest, taxes, depreciation and amortization (EBITDA) were up 6.1 percent at Rs 21.6 crore in the December quarter from Rs 20.4 crore in the year-ago period. The margin stood at 8.7 percent against 8.3 percent in same quarter of the previous year.
On January 23, Butterfly closed at Rs 1502.5 on the BSE, 0.73 percent higher than the previous close.
The company’s healthy profit reflects the optimism in the appliances and consumer electronics (ACE) industry. Consumer Electronics and Appliances Manufacturers Association (CEAMA), a leading ACE industry body, said in December it was "optimistic about good growth in 2023 as well".
The industry's total value is expected to double to Rs 1.48 lakh crore by 2025, it said.
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