TTK Prestige Q2 net up 54.63% to Rs 33.71 cr

NEW DELHI: Kitchen appliance maker TTK Prestige on Monday posted a 54.63 per cent increase in its net profit to Rs 33.71 crore for the second quarter ended September 30, 2011 as against the same period last fiscal.

The company had a net profit of Rs 21.80 crore in the quarter ended September 30, 2010, TTK Prestige said in a filing to the BSE.

During the quarter under review, the company's sales stood at Rs 303.48 crore up by 51.8 per cent, from Rs 199.86 crore recorded in the corresponding period last fiscal.

Besides, the firm has also informed it has decided to constitute a sub-committee of the board to look into the merging of the kitchen appliances division of an unlisted firm -- Triveni Bialletti Industries Private Limited.

"The Board of Directors at its meeting held on October 10, 2011, considered the proposal and decided to constitute a sub-committee of the Board to look into the details and take appropriate decisions," the firm said.

Shares of TT Prestige closed at Rs 2,814.25 on the BSE, up 7.40 per cent from the previous close.