{"id":139584,"date":"2023-01-31T06:53:06","date_gmt":"2023-01-31T11:53:06","guid":{"rendered":"https:\/\/44.250.171.167\/?p=139584"},"modified":"2023-01-31T06:53:07","modified_gmt":"2023-01-31T11:53:07","slug":"ttk-prestige-profit-drops-by-36-as-inflation-hurts-consumer-spending","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ttk-prestige-profit-drops-by-36-as-inflation-hurts-consumer-spending\/","title":{"rendered":"TTK Prestige profit drops by 36% as inflation hurts consumer spending"},"content":{"rendered":"\n<p>TTK Prestige Ltd reported a 36.5% drop in third-quarter profit on Tuesday, hurt by higher inventory expenses as surging inflation hit demand for its home and kitchenware products. \u201cKitchen appliances have seen a reduced share of wallet and tepid demand due to spending on alternate avenues,\u201d the company said in a statement.<\/p>\n\n\n\n<p>TTK said it expects weaker demand due to inflation to persist through the fourth quarter. The Bengaluru-based company\u2019s consolidated profit fell to 575.8 million rupees ($7.1 million) in the quarter ended Dec. 31, from 907 million rupees a year earlier.<\/p>\n\n\n\n<p>The company said expenses for changes in inventory were 96.5 million rupees in the quarter, while it was a negative 503.9 million rupees in the year-ago period. TTK\u2019s consolidated revenue slid 9.15% to 6.95 billion rupees in the quarter, with declines in all product categories.<\/p>\n\n\n\n<p>Sales in its appliances division, which accounts for nearly half of the company\u2019s total sales, fell 7%. Sales of cookers, including those of the Prestige brand, dropped 10%. TTK\u2019s domestic sales slid 8.3%, while exports sank almost 40%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"993\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-993x1024.png\" alt=\"\" class=\"wp-image-139586\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-993x1024.png 993w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-291x300.png 291w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-768x792.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-1489x1536.png 1489w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71-1985x2048.png 1985w\" sizes=\"auto, (max-width: 993px) 100vw, 993px\" \/><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TTK Prestige Ltd reported a 36.5% drop in third-quarter profit on Tuesday, hurt by higher inventory expenses as surging inflation hit demand for its home and kitchenware products. \u201cKitchen appliances have seen a reduced share of wallet and tepid demand due to spending on alternate avenues,\u201d the company said in a statement. TTK said it [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":139586,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392,85],"tags":[11416,10481,11417],"class_list":["post-139584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","category-retail-stocks","tag-cookers","tag-kitchen-appliances","tag-utensils"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/69631676-c67e-4c44-91c2-67bb5b252e71.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":140865,"url":"https:\/\/alphastreet.com\/india\/ttk-prestige-reported-a-36-drop-in-its-net-profit-in-q3fy23\/","url_meta":{"origin":139584,"position":0},"title":"TTK Prestige reported a 36% drop in its net profit in Q3FY23","author":"Chirag Gupta","date":"January 31, 2023","format":false,"excerpt":"TTK Prestige Ltd reported a 36.5% drop in third-quarter profit, hurt by higher inventory expenses as surging inflation hit demand for its home and kitchenware products. \u201cKitchen appliances have seen a reduced share of wallet and tepid demand due to spending on alternate avenues,\u201d the company said in a statement.\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":147296,"url":"https:\/\/alphastreet.com\/india\/ttk-prestige-ltd-q4fy23-results-out-revenue-drops-by-12\/","url_meta":{"origin":139584,"position":1},"title":"TTK Prestige Ltd Q4FY23 results out, revenue drops by 12%","author":"Chirag Gupta","date":"May 25, 2023","format":false,"excerpt":"TTK Group was founded in 1928 founded by Mr. T.T. Krishnamachari who set up the distribution for a wide range of products ranging from Foods, Personal care products, etc. The company is India\u2019s largest kitchenware company. TTK Prestige was Established in 1955 as a private limited company, TTK went public\u2026","rel":"","context":"In &quot;Consumer&quot;","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":162971,"url":"https:\/\/alphastreet.com\/india\/ttk-prestige-ltd-q4fy24-2-fall-in-profits\/","url_meta":{"origin":139584,"position":2},"title":"TTK Prestige Ltd Q4FY24; 2% fall in Profits","author":"Chirag Gupta","date":"July 12, 2024","format":false,"excerpt":"TTK Group was founded in 1928 founded by Mr. T.T. Krishnamachari who set up the distribution for a wide range of products ranging from Foods, Personal care products, etc. The company is India\u2019s largest kitchenware company. TTK Prestige was Established in 1955 as a private limited company, TTK went public\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/07\/image-103.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":153242,"url":"https:\/\/alphastreet.com\/india\/ttk-healthcare-ltd-q1fy24-97-fall-in-profits\/","url_meta":{"origin":139584,"position":3},"title":"TTK Healthcare Ltd Q1FY24; 97% fall in Profits","author":"Chirag Gupta","date":"August 14, 2023","format":false,"excerpt":"TTK Healthcare Ltd is engaged in the business of Pharmaceuticals, Consumer Products, Medical Devices, Protective Devices and Foods. It is a part of TT Krishnamachari group; whose flagship company, TTK Prestige Ltd is one of the leading kitchen appliances company in India. Financial Results: TTK Healthcare Ltd reported Revenues for\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-852.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":155749,"url":"https:\/\/alphastreet.com\/india\/ttk-healthcare-ltd-q2fy24-60-rise-in-profits\/","url_meta":{"origin":139584,"position":4},"title":"TTK Healthcare Ltd Q2FY24; 60% rise in Profits","author":"Chirag Gupta","date":"November 3, 2023","format":false,"excerpt":"TTK Healthcare Ltd is engaged in the business of Pharmaceuticals, Consumer Products, Medical Devices, Protective Devices and Foods. It is a part of TT Krishnamachari group; whose flagship company, TTK Prestige Ltd is one of the leading kitchen appliances company in India. Financial Results: TTK Healthcare Ltd reported Revenues for\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-51.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":164748,"url":"https:\/\/alphastreet.com\/india\/ttk-prestige-ltd-q1fy24-11-fall-in-profits\/","url_meta":{"origin":139584,"position":5},"title":"TTK Prestige Ltd Q1FY24; 11% fall in Profits","author":"Chirag Gupta","date":"October 8, 2024","format":false,"excerpt":"TTK Group was founded in 1928 founded by Mr. T.T. Krishnamachari who set up the distribution for a wide range of products ranging from Foods, Personal care products, etc. The company is India\u2019s largest kitchenware company. TTK Prestige was Established in 1955 as a private limited company, TTK went public\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/10\/image-44.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/139584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=139584"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/139584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/139586"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=139584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=139584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=139584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}