NEW DELHI: Titan Company Ltd on Friday reported an 8.34 per cent rise in consolidated net profit at Rs 301.11 crore for the quarter ended September 30, 2018, dragged by provisions made for its corporate deposits in the IL&FS group. The company had reported a net profit of Rs 277.93 crore for the July-September period of the last fiscal.
Titan said as on September 30, 2018, as a part of treasury operations, it has invested in inter-corporate deposits amounting to Rs145 crore with IL&FS and its subsidiary. Total income during the quarter under review stood at Rs 4,595.13 crore. It was Rs 3,603.01 crore in the corresponding period last fiscal. Revenue from operations for the period up to June 30, 2017 includes excise duty on goods sold.