A standalone net profit of Rs 734 crore was announced by Titan Company on May 3 for the quarter that ended in March, an increase of 50% from the Rs 491 crore reported a year earlier.
The jewellery giant released a total revenue of Rs 8,753 crore, a 25% increase over the Rs 6,977 crore reported in the same time frame last year.
The company’s revenue was estimated by analysts surveyed by Moneycontrol to increase by 25% year over year, as stated in the operational update. According to the study, EBITDA margin was predicted to be 11.6 percent, up from 10.7 percent in the previous quarter last year.
Analysts anticipated it to generate a standalone profit after tax (PAT) of Rs 737 crore, up 50% year over year.
Total revenue for the jewellery segment was Rs. 7576 crore, up 24% year over year (YoY). According to the company, sales in India increased by 21% year over year, while buyer growth was at 15%. According to Titan, the wedding sector has made a comeback, with growth rates that were just a little bit greater than those of retail as a whole.
The company’s EBIT was Rs 997 crore, with a 13.2% EBIT margin.
The watches and wearables industry reported total revenue of Rs 871 crore, increasing 40% YoY, driven by analogue watch sales that saw significant growth and wearables sales that more than doubled. EBIT was Rs 98 crore with an 11.3 percent EBIT margin.
Moreover, the total revenue for the eye-care industry increased by 23% to Rs 165 crore.