Titan Announces Dividend Of Rs 11
The dividend will be paid or dispatched on or after the seventh day from the conclusion of the AGM.
Titan Co. has announced a dividend of Rs 11 per equity share for fiscal 2024, which will be paid after approval from shareholders at the ensuing annual general meeting. The company announced distribution of Rs 976 crore to unitholders in the fourth quarter of the previous fiscal.
The dividend will be paid or dispatched on or after the seventh day from the conclusion of the AGM, the company announced through an exchange filing on Friday.
In comparison, the company in July 2023 had paid a dividend of Rs 10 apiece and in FY22, it paid a dividend of Rs 7.50 per share.
In the fourth quarter, the company reported a net profit of Rs 771 crore and a revenue gain of 20.59% at Rs 12,494 crore.
Titan Q4 FY24 Result Highlights (Consolidated, YoY)
Revenue up 20.6% to Rs 12,494 crore vs Rs 9,215 crore (Bloomberg estimate: Rs 10,567 crore).
Ebitda up 9.4% to Rs 1,191 crore vs Rs 1,089 crore (Estimate: Rs 1,294 crore).
Ebitda margin at 9.53% vs 10.5% (Estimate: 12.2%).
Net profit up 4.8% to Rs 771 crore vs Rs 730 crore (Estimate: Rs 876 crore).
