Butterfly Gandhimathi Reports Q1 Profit Amid Revenue Dip

Butterfly Gandhimathi Appliances Ltd reported a net profit of Rs 2.51 crore for the April-June 2024 quarter, down from Rs 14.73 crore in the same period last year. Revenue for the quarter was Rs 183.74 crore, impacted by a decline in E-commerce sales. The company is implementing various initiatives to strengthen its business fundamentals.

Butterfly Gandhimathi Appliances Ltd has posted a net profit of Rs 2.51 crore for the April-June 2024 quarter, the company announced on Wednesday. This marks a significant drop from the Rs 14.73 crore profit recorded in the same period last year.

The company's total income for the quarter decreased to Rs 183.74 crore from Rs 220.09 crore in the corresponding quarter of last year. For the fiscal year ending March 31, 2024, the total income stood at Rs 936.14 crore.

Despite a 10% quarter-on-quarter growth, the company noted a 17% year-on-year decline mainly due to reduced E-commerce activity. Manager and Chief Business Officer Swetha Sagar highlighted that the company recorded an EBITDA margin of 5.1%, aided by improved gross margins and reduced A&P expenditures. Sagar expressed optimism for future growth, driven by sustainable margins and upcoming festive demand.

(With inputs from agencies.)