Stove Kraft Q1FY24 Results: Shares increases by 3% on solid Q1FY24 profits

After the company's June quarter results increased sequentially and annually, Stove Kraft shares increased 3.39% on 31st July. The manufacturer of kitchen appliances announced on 28th July that its operating revenue for the Q1FY24 increased by 8.24% YoY to Rs 297.75 crore from Rs 275.07 crore in the same period last year.

The net profit for the quarter under review for Stove Kraft grew by 1.4% YoY to Rs 8.20 crore. Comparing this loss sequentially to the loss of Rs. 6 crore reported in Q4FY23 shows an improvement.

EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization) was Rs 23.4 crore for the first quarter of FY24, an 8.7% YoY growth from Rs 21.60 crore reported in the first quarter of FY23. EBITDA margins, meanwhile, were steady at 7.9% in the reported quarter.

An Indian company called Stove Kraft Limited manufactures and sells a variety of kitchen equipment with an emphasis on home appliances. They sell pressure cookers, nonstick cookware, and gas burners under the Pigeon and Gilma brands.

Source: Media Reports

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