Butterfly Gandhimathi Appliances reported an 11% YoY increase in net profit at Rs 15 crore for the June Quarter of the current fiscal year.

However, the home appliance maker saw a significant decrease of 14% YoY in operating revenue to Rs 219 crore for the quarter under review.

EBITDA of the company declined by 24% to Rs 20 in the April-June quarter.

The company has four core products: Pressure cookers, gas stoves, mixer grinders, and wet grinders. Still, the company also produces other small domestic appliances.

Rangarajan Sriram, Managing Director, Butterfly Gandhimathi Appliances, said, “Through our focus on channel restructuring, we continue to drive sustainable growth in B2C channels such as retail outlets, modern trade, chain stores and e-commerce, while de-risking non-core channels,”

The company said in the regulatory filing that its market position remains unchanged despite challenges faced by the industry.

Since the beginning of the year, the stock has lost 22%.

The appliance company is also looking to merge with Crompton Greaves, which is underway.

At 12:15 pm, the shares of Butterfly Gandhimathi Appliances were trading at Rs Rs 1,191.55 or 1.26% above its previous close on NSE.