Titan reported a 9% YoY growth in standalone net profit at Rs 1,040 crore in Q3. Revenue from operations increased by 20% YoY to Rs 13,052 crore. EBIT for the quarter grew 11% YoY to Rs 1,478 crore. EBIT margins declined 116 basis points to 11.3%. Total income from the jewellery business rose 23% to Rs 11,709 crore.
Titan Ltd is expected to report strong Q3 results with significant growth in consolidated revenues and net profit. However, higher raw material prices may lead to a decline in gross and EBITDA margins. The Jewellery segment is likely to have a strong quarter, with notable growth in gold and coins sales. The Watches & Wearables segment is expected to show growth, while the Eyecare segment may have a muted quarter. Titan also added 90 new stores during the quarter, expanding its total presence to 2,949 stores.
Titan Company Ltd posted a 9.4% rise in Q3 standalone net profit to Rs 1,040 crore against Rs 951 crore in the December 2022 quarter. Standalone total income climbed 24.1 percent to Rs 14,122 crore in the last quarter against Rs 11,383 crore profit in the December 2022 quarter. Meanwhile, shares of Titan were trading 1.83% lower at Rs 3629.75 on BSE.
On the other hand, the company posted a 15.45% rise in consolidated net profit to Rs 1,053 crore against Rs 913 crore in the December 2022 quarter. Consolidated total income climbed 24.1 percent to Rs 14,122 crore in the last quarter against Rs 11,383 crore profit in the December 2022 quarter.
The stock remains a darling of investors after the company's strong performance in the third quarter, with positive perceptions of its business model boosted by the “Jhunjhunwala effect”.
Titan Company share slips 3% post Q3 earnings; here's what brokerages say
Titan Company stock fell up to 3.28% to Rs 1,512.1 against previous close of Rs 1,563 on BSE
BusinessToday.In | February 11, 2021 | Updated 13:39 IST
Titan Company share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages
Titan share falls over 2% after Q3 net profit falls 11% Share of Titan Company fell over 3% today despite the firm reporting Q3 earnings that met expectations. The Tata group firm reported a 11.81% rise in consolidated net profit to Rs 530 crore in Q3 led by income growth in the jewellery division.
Titan Company stock fell up to 3.28% to Rs 1,512.1 against previous close of Rs 1,563 on BSE. The stock opened lower at Rs 1,554.50 today. Market cap of the luxury goods firm fell to Rs 1.34 lakh crore. The stock has fallen after 3 days of gain.
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