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Gandhimathi Appliances Ltd, maker of Butterfly branded kitchen and small appliances, has posted a little over 90 per cent growth in net profit at Rs 11.53 crore for the quarter ended December 31 against Rs 6.03 crore in the comparable previous year quarter. Sales more than doubled to Rs 226.48 crore for the quarter from Rs 86.57 crore in the previous year. Earnings per share stood at Rs 7.47 as against Rs 3.91.
For the nine-month period ended December 31, the net profit stood at Rs 25.14 crore (Rs 11.38 crore) and turnover for the period went up to Rs 406 crore from Rs 200.37 crore in the previous year period. According to Mr V. M. Seshadri, Managing Director , the growth in turnover and net profits can primarily be attributed to the Tamil Nadu Government order bagged by the company to manufacture and supply wet grinders and mixer grinders (worth Rs 135 crore for the nine-month period).
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