Butterfly Gandhimathi Appliances Ltd reports Q1 net profit at Rs 2.51 cr

Chennai, Jul 24 (PTI) Kitchen and small domestic appliances player Butterfly Gandhimathi Appliances Ltd has reported a net profit of Rs 2.51 crore for the April-June 2024 quarter, the company said on Wednesday.

    The company had registered a net profit of Rs 14.73 crore during the corresponding quarter of last year. For the year ending March 31, 2024 the net profits of the company was Rs 7.38 crore.

    The total income during the quarter under review slipped to Rs 183.74 crore from Rs 220.09 crore registered in the same quarter of last year. For the full year ending March 31, 2024 the total income was at Rs 936.14 crore.
    
    In a statement, the company said the revenues for the quarter under review grew by 10 per cent quarter-on-quarter basis at Rs 182 crore and declined 17 per cent year-on-year, primarily due to drop in E-commerce.
    
     Several initiatives are being undertaken to strengthen the fundamentals including actions on price and product laddering, streamlining process in online channel and optimising schemes. Retail continued its growth momentum while online was impacted by pricing actions, it said.
    
     "We recorded a revenue of Rs 182 crore and EBITDA margin of 5.1 per cent driven by improved gross margin and optimisation of A&P spends. We have identified and initiated implementation of key tasks to strengthen the business fundamentals and are leveraging the uptick in consumer demand," company Manager and Chief Business Officer Swetha Sagar said on the company's financial performance.
    
     "Moving forward, we endeavour to build the business with sustainable margins driven by strong governance practices. With the Onam festival in Q2, we expect uplift in consumer demand," Sagar added.

(This story has not been edited by THE WEEK and is auto-generated from PTI)