Stove Kraft Ltd, the manufacturers of cookware, kitchen, and home appliances, recorded a profit of INR 6.8 crore for the quarter ended December 2023. This marks a decrease of 13.3 per cent compared to the INR 7.8 crore reported for the corresponding quarter of the previous year. Despite this decline, the company’s revenue showed growth, increasing by 11.4 per cent to INR 361.6 crore from INR 324.5 crore in the same quarter of the prior year.
Compared to the previous period, revenue saw a decline of 4.8 per cent, and net profit also experienced a significant decrease of 59.1 per cent. However, the EBITDA for the quarter reached INR 30.1 crore, indicating a notable year-on-year growth of 18.3 per cent.
Continue Exploring: Stovekraft bolsters market presence, unveils first Pigeon brand outlet in North India
Commenting on Q3 results, Rajendra Gandhi, Managing Director, Stove Kraft Ltd, said, “In the third quarter of FY24, our revenue stood at INR 362 crore with a gross margin of 38.5 per cent, thus registering a growth of 11.4 per cent in revenue on a y-o-y basis. We have strategically expanded our presence across various channels, including general trade, modern trade, e-commerce, institutional, and exports. We are thrilled to bring our innovative and reliable kitchen appliances to the discerning consumers of North India. This marks the beginning of our expansion plan in the northern region, and we aim to further expand our operations outside Southern India through our reliable and innovative kitchen appliances solutions.”
