Titan Company on Friday reported a 30.2 per cent year-on-year (YoY) jump in consolidated net profit at Rs 835 crore compared with Rs 641 crore in the corresponding quarter last year.
Consolidated sales for the quarter climbed 18.3 per cent YoY to Rs 8,567 crore from Rs 7,243 crore in the same quarter last year.
The Titan Group company said its Ebitda rose 27.9 per cent YoY to Rs 1,308 crore from Rs 1,023 crore, with Ebitda margin improving to 15 per cent from 13.9 per cent YoY. Ebit margin stood at 13.7 per cent against 12.5 per cent YoY.
The jewellery segment logged a 17.8 per cent YoY growth in total sales at Rs 7,515 crore. Watches & Wearables segment’s total income stood at Rs 830 crore, up 20.6 per cent YoY. Eyecare segment reported a 4.9 per cent YoY rise in total income at Rs 167 crore while other businesses logged a 97.7 per cent growth at Rs 196 crore.
“The company has continued its strong performance into Q2 across all business segments. Despite an uncertain macro environment, the current festive season starting from end of September month and continuing till end of October has been quite positive and the consumer confidence remains upbeat,” said Managing Director CK Venkataraman.
Venkataraman said his company clocked a retail growth of 17-19 per cent in larger business divisions over similar festive season timeline of the previous year.
“We remain relentlessly focussed in executing our growth plans in India and overseas and are optimistic about our performance in the remaining quarters of the current financial year,” he said.
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