STOCK MARKET BSE NSE

Titan posts Rs 18 crore profit in Q1

Titan Company Limited had reported a net loss of Rs 297 crore in the corresponding period of the preceding fiscal.

Published: 04th August 2021 07:03 PM  |   Last Updated: 04th August 2021 07:03 PM   |  A+A-

Titan logo

Titan company logo

By PTI

NEW DELHI: Tata group firm Titan Company Ltd on Wednesday reported a consolidated profit of Rs 18 crore for the June quarter, helped by higher income.

The company had reported a net loss of Rs 297 crore in the corresponding period of the preceding fiscal.

Total income during the quarter under review stood at Rs 3,519 crore.

It was Rs 2,020 crore earlier, Titan said in a regulatory filing.

Its higher revenue in the first quarter of the current fiscal was "primarily driven by the base effect of zero sales in April last year," the company said in a statement.

"While we started the quarter with strong business momentum, the second wave of the pandemic severely disrupted it and we quickly shifted our priorities to health and safety of our employees, business associates and customers," Titan's Managing Director C K Venkataraman said.

"The learnings and experience of the past year helped us navigate this quarter's turbulence much more efficiently," he added.

Titan said its jewellery division is gaining good traction in new customers and its mix in total buyers has reached the pre-pandemic levels.

Titan's jewellery division recorded an income of Rs 2,467 crore for the quarter as compared to Rs 1,182 crore in the same period last year.

The watches and wearables business recorded an income of Rs 292 crore as against Rs 75 crore earlier.

The eyewear business income stood at Rs 67 crore, compared to Rs 30 crore in the same period last year.

The other segments of the company comprising Indian dress wear and accessories recorded an income of Rs 14 crore as against Rs 4 crore earlier.

Shares of Titan Company Ltd settled 2.14 per cent lower at Rs 1,799.80 apiece on the BSE.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp