Butterfly Gandhimathi down 2% after volumes surge

Butterfly Gandhimathi has lost 23 percent over last year and 19 percent since January 1

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Butterfly Gandhimathi shares were down 1.61 percent on October 3 afternoon after around 32,000 shares exchanged hands on the National Stock Exchange.

Butterfly Gandhimathi shares have lost 23 percent in the last year and 19 percent since January 1.

The company CFO Ananda Shalini will be relived from her managerial duties on October 20 and will also cease to be the key managerial personnel (KMP), the company said in an exchange filing.

“The company is in the process of identifying a suitable candidate for the office of CFO and KMP, and the said appointment would be informed to the stock exchanges in due course,” it said in an exchange filing on September 28.

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Crompton Greaves Electrical Consumers in late Mrach announced merger with Butterfly Gandhimathi.

Also read Butterfly Gandhimathi shares surge on strong net profit numbers

The company’s revenue fell 13 percent year-on-year (YoY) to Rs 219 crore in the April-to-June quarter. Net profit during the same period increased 15 percent YoY to Rs 15 crore.

The company makes domestic appliances such as LPG Stoves, mixer grinders, table top wet grinders, pressure cookers, and others.

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