TTK Healthcare Limited , a prominent player in the healthcare sector, has recently received income tax orders that could potentially impact its financial position. The company has disclosed that it plans to challenge these orders through the appropriate legal channels.

Income Tax Orders Details

The Income Tax Department has issued two significant orders to TTK Healthcare:

1. For the Assessment Year 2016-17:

   • Withdrawal of interest granted under Section 244A of the Income Tax Act, amounting to ₹1,26,41,187
   • Charging of interest under Section 234D amounting to ₹13,27,355
   • Total impact: ₹1,39,68,542

2. For the Assessment Year 2017-18:

   • Withdrawal of interest granted under Section 244A of the Income Tax Act, amounting to ₹87,62,620

The cumulative financial implication of these orders stands at ₹2,27,31,162.

Company's Response

TTK Healthcare has stated its intention to file appeals against these orders before the appropriate authorities. The company has expressed confidence in obtaining the necessary relief through the appeal process.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, TTK Healthcare has promptly disclosed this information to the stock exchanges. The company received these orders on August 26, and immediately informed the BSE Limited and the National Stock Exchange of India Limited.

Market Impact

While the immediate financial implication is clear, the long-term impact on TTK Healthcare's financials will depend on the outcome of the appeals process. Investors and stakeholders will likely keep a close watch on the developments in this matter.

TTK Healthcare continues to operate its business as usual while it prepares to address these tax-related challenges through the appropriate legal channels.

TTK Healthcare Limited , a diversified consumer goods and healthcare company, has reported mixed financial results for the first quarter. The company saw an increase in revenue but experienced a significant drop in profitability compared to the same period last year.

Revenue Growth

TTK Healthcare's revenue from operations rose to ₹2,264.30 crore, up from ₹2,079.02 crore in the corresponding quarter of the previous year. This represents a year-on-year growth of approximately 8.91%, indicating a positive trend in the company's top-line performance.

Profit and EBITDA Decline

Despite the revenue growth, the company's net profit saw a substantial decrease. TTK Healthcare reported a net profit of ₹130.00 crore for the quarter, compared to ₹315.70 crore in the same period last year, marking a significant decline of about 58.82%.

Furthermore, TTK Healthcare's Q1 EBITDA dropped significantly to ₹27.00 crore compared to ₹69.00 crore in the same period last year, representing a 60.87% year-over-year decline. The company's EBITDA margin also compressed to 1.19% from 3.32% in the previous year's corresponding quarter, indicating reduced profitability.

Segment Performance

The company's financial results reveal varied performances across its different business segments:

The Consumer Products segment emerged as the largest revenue contributor, while the Protective Devices segment showed the highest profitability.

Financial Position

As of the reporting date, TTK Healthcare's total assets stood at ₹13,108.66 crore, with total liabilities of ₹2,322.46 crore. The company maintained a strong equity position with a paid-up equity share capital of ₹141.30 crore.

Management Commentary

The company's board of directors reviewed and approved these financial results at a meeting held on August 4. The meeting, which began at 12:00 noon and concluded at 12:50 p.m., was conducted with provisions for video conferencing.

TTK Healthcare's performance this quarter reflects the challenges faced by many companies in the current economic environment. While the company has managed to grow its revenue, the significant drop in profitability and EBITDA may be a cause for concern for investors and stakeholders.

The company continues to operate across diverse segments, from animal welfare products to consumer goods and medical devices. This diversification strategy may help TTK Healthcare navigate through sector-specific challenges and capitalize on growth opportunities in different markets.