TTK Prestige Reports Robust Q2 Performance with 11% Revenue Growth

TTK Prestige Limited , a prominent player in the kitchen and home appliances segment, has announced its financial results for the second quarter and half year ended September 30, showcasing strong growth and improved profitability.

Financial Highlights

Particulars	Q2 (₹ in crores)	Q2 (₹ in crores)	YoY Change
Revenue from Operations	786.64	708.52	11.03%
Net Profit After Tax	77.06	63.20	21.93%
Basic Earnings Per Share (₹)	7.68	7.54	1.86%

Key Performance Indicators

Revenue Growth: TTK Prestige reported a significant year-on-year revenue growth of 11.03% in Q2, with revenue from operations reaching ₹786.64 crores compared to ₹708.52 crores in the same quarter last year.
Profit Surge: The company's net profit after tax saw a substantial increase of 21.93%, rising to ₹77.06 crores in Q2 from ₹63.20 crores in the corresponding quarter of the previous year.
Half-Year Performance: For the first half of the fiscal year, TTK Prestige's revenue stood at ₹1,530.32 crores, marking a notable increase from ₹1,259.77 crores in the corresponding period of the previous year.

Strategic Initiatives

TTK Prestige has demonstrated its commitment to long-term growth and efficiency by investing in business excellence initiatives. The company incurred expenses of ₹35.60 crores in the first half of the fiscal year towards business excellence initiatives and sustainable cost savings efforts.

Corporate Social Responsibility

In line with its commitment to social responsibility, TTK Prestige reported a CSR expenditure of ₹3.20 crores for the half-year period.

Board Approval and Disclosure

The financial results were approved by the Board of Directors in a meeting held on October 28. The meeting commenced at 10:30 AM and concluded at 12:20 PM. In compliance with regulatory requirements, the company has submitted these results to the National Stock Exchange and BSE Limited.

TTK Prestige's strong performance in Q2 reflects its resilience and ability to grow in the competitive kitchen and home appliances market. The significant increase in revenue and profitability, coupled with strategic investments in business excellence, positions the company well for sustained growth in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+10.70%	+11.08%	+12.71%	+13.58%	-16.75%	+24.66%

TT Jagannathan, the Chairman Emeritus of TTK Group and the visionary behind the Prestige brand, has passed away in Bengaluru. Jagannathan's contributions to the Indian kitchenware industry and his role in transforming the TTK Prestige have left an indelible mark on the business landscape.

Revolutionary Innovator

Jagannathan revolutionized the pressure cooker industry by introducing the 'gasket release system', which established Prestige as a household name in India. This innovation not only improved the safety of pressure cookers but also helped in making them more user-friendly, contributing to their widespread adoption in Indian kitchens.

Academic and Professional Journey

With a Ph.D. in operations research from Cornell University, Jagannathan brought a scientific approach to business management. His academic background, combined with his business acumen, played a crucial role in the success of TTK Prestige. Jagannathan's commitment to the company was evident in his fifty-year tenure on TTK Prestige's board.

Turnaround Specialist

One of Jagannathan's most significant achievements was his role in turning around the TTK group. Under his leadership, the company not only recovered from near-bankruptcy but also became debt-free. This transformation is a testament to his strategic vision and management skills.

Legacy in Literature

Jagannathan's journey and business philosophy are immortalized in his book, 'Disrupt and Conquer-How TTK Prestige became a Billion Dollar Company'. The book serves as a valuable resource for entrepreneurs and business leaders, detailing the challenges and strategies that led to TTK Prestige's remarkable success.

Impact on Indian Industry

TT Jagannathan's passing marks the end of an era in the Indian kitchenware and appliance industry. His innovative spirit, coupled with his ability to navigate through challenging business landscapes, has set a benchmark for future generations of entrepreneurs.

The legacy of TT Jagannathan extends beyond the products he helped create. His journey from facing near-bankruptcy to building a billion-dollar company serves as an inspiration for business leaders facing adversity. The TTK Group and the Prestige brand stand as testaments to his vision, resilience, and innovative approach to business.