Titan Company Ltd.'s net profit matched analyst estimates aided by strong operational performance in the quarter ended March.
Net profit jumped more than 40 percent to Rs 282.12 crore on a year-on-year basis, Titan said in its filings to the stock exchanges. The bottom line was aided by strong operational performance in the watches and jewellery segments. Net sales rose 11.7 percent to Rs 3,916 crore, marginally lower than analyst estimates.
Earnings before interest, tax, depreciation and amortisation rose 67 percent to Rs 454 crore on a year-on-year basis, surpassing analyst estimates while the operating margin expanded 390 basis points to 11.6 percent.
Segmental Highlights
- Revenue from the jewellery segment rose 13 percent to Rs 3,292 crore while ebidta jumped 60 percent on a year-on-year basis.
- Revenue from the watches segment fell 1.8 percent to Rs 494.03 crore while operating profit increased nearly fourfold.
- Revenue from the eyewear segment declined 1.8 percent to Rs 109 crore while ebidta fell more than 78 percent.
The company also announced a final dividend of Rs 3.75 per share.
The stock closed 1.3 percent lower at Rs 973 apiece on the National Stock Exchange Ltd., ahead of the earnings announcement.
Watch this interview with S Subramaniam, chief financial officer at Titan Company on the quarterly results.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
