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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.
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 Company: Titan added a total of 90 stores during the quarter, taking the group's total presence to 2,949 stores. At the end of the September quarter, Titan had 2,859 stores.