Now Reading: Titan Q1 profit jumps 63% to Rs 1,777 crore on jewellery demand
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Titan Q1 profit jumps 63% to Rs 1,777 crore on jewellery demand
Titan Q1 profit jumps 63% to Rs 1,777 crore on jewellery demand
Titan Company reported a 63% year-on-year jump in consolidated net profit to Rs 1,777 crore for the June quarter, beating the analyst estimate of Rs 1,392 crore. The Tata Group firm's revenue…
The Story in Brief
Titan Company reported a 63% year-on-year jump in consolidated net profit to Rs 1,777 crore for the June quarter, beating the analyst estimate of Rs 1,392 crore. The Tata Group firm's revenue from operations rose between 29% and 40% depending on the source, NDTV Profit reports Rs 21,356 crore while Livemint puts it at Rs 20,787 crore. EBITDA climbed 58% to Rs 2,890 crore, with margins expanding to 13.5%.
The jewellery business, which accounts for over 80% of revenue, grew 30-43% to between Rs 18,253 crore and Rs 19,002 crore. The watches segment posted 21% growth to Rs 1,543 crore, while eyewear rose 21% to Rs 289 crore. Titan Engineering & Automation surged 43% to Rs 438 crore.
The Indian Opinion
The headline numbers are impressive, but the gap between the two revenue figures reported by the two sources shows how details matter. Livemint puts revenue at Rs 20,787 crore, NDTV Profit at Rs 21,356 crore, a difference big enough to confuse. With jewellery driving over 80% of business, the real test will be whether demand stays strong through the festival season. Also, watch for how the smartwatch decline plays out in the coming quarters.
Sources (2): livemint.com, ndtvprofit.com
This story was synthesised by AI from the 2 sources linked above.
