Titan Q2 net profit rises 2% to Rs 320 crore; high gold prices hit jewellery biz
Titan Q2 results: The jewellery business had a subdued quarter due to very high gold prices, recording revenue of Rs 3,528 crore as compared to Rs 3,582 crore last year. The watches business recorded an income of Rs 719 crore against Rs 676 crore in the previous year, a growth of 6.4 per cent
- Nov 5, 2019,
- Updated Oct 8, 2020 2:08 PM IST
Tata Group firm Titan Company on Tuesday reported 1.8 per cent year-on-year (YoY) growth in standalone net profit at Rs 320.16 crore for the second quarter ended September 30, 2019, affected by subdued performance in jewellery business.
The jewellery and watch manufacturer had posted standalone net profit of Rs 314.38 crore in the same quarter last year," Titan Company said in a filing to the Bombay Stock Exchange.
Revenue from operations during July-September quarter stood at Rs 4,435 crore, against last year's income of Rs 4,407 crore during the same period. The total income rose marginally by 0.7 per cent to Rs 4,466 crore in Q2FY20, from Rs 4,434 crore in Q2FY19.
During the quarter under review, EBITDA (Earnings before interest, tax, depreciation and amortisation) jumped 10.1 per cent to Rs 544 crore against Rs 494 crore in the corresponding quarter of the last year.
The profit before tax declined 3.7 per cent to Rs 429 crore versus Rs 446 crore in the same period last year, "impacted due to the flat growth in revenues compounded by increase in certain overheads".
Tata Group firm Titan Company on Tuesday reported 1.8 per cent year-on-year (YoY) growth in standalone net profit at Rs 320.16 crore for the second quarter ended September 30, 2019, affected by subdued performance in jewellery business.
The jewellery and watch manufacturer had posted standalone net profit of Rs 314.38 crore in the same quarter last year," Titan Company said in a filing to the Bombay Stock Exchange.
Revenue from operations during July-September quarter stood at Rs 4,435 crore, against last year's income of Rs 4,407 crore during the same period. The total income rose marginally by 0.7 per cent to Rs 4,466 crore in Q2FY20, from Rs 4,434 crore in Q2FY19.
During the quarter under review, EBITDA (Earnings before interest, tax, depreciation and amortisation) jumped 10.1 per cent to Rs 544 crore against Rs 494 crore in the corresponding quarter of the last year.
The profit before tax declined 3.7 per cent to Rs 429 crore versus Rs 446 crore in the same period last year, "impacted due to the flat growth in revenues compounded by increase in certain overheads".