Butterfly Gandhimathi Appliances Ltd, a Crompton subsidiary and a leading kitchen and small domestic appliances company, has reported a net loss of ₹2 crore for the third quarter ended December 31, 2024, as against a net profit ₹12 crore during the corresponding period last year. Revenue declined 4 per cent to ₹238 crore (₹248 crore). This was due to decline in the B2B segment, especially corporate sales, the company said.

Despite high competitive intensity, core categories such as mixer grinders, gas stove and pressure cookers delivered growth of 12 per cent year on year. The growth was led by stainless steel as stoves with over 47 per cent increase due to new product launches and portfolio width spanning across price points to fulfil consumer needs

Seven new products were launched in Q3 such as Insta and Dynamo mixer grinders, Friendly Shakti gas stove, Jyoti stainless steel LPG, Matchless sandwich maker, Magnum cool touch kettle, Dazzler hand blender.

The company made significantly higher investments on brand building at ₹22 crore during the quarter through continued spends on TV, print and out-of-home advertising and a targeted approach towards e-commerce to build brand awareness and consideration. This was coupled with higher promotions during the festive season, the release said.

Rangarajan Sriram, Managing Director, Butterfly Gandhimathi Appliances Ltd, said the ‘Power of One’ initiative, which leverages Crompton’s existing strength in distribution to expand Butterfly’s reach in the West and North regions, is garnering momentum. Promotions due to competitive intensity, increase in employee expenses and higher A&P spends led to subdued EBITDA margins.

The company’s share price on the BSE closed at ₹910, down 2.91 per cent.