Titan left limp-wristed in Q4FY16
Bhagyashree Vivarekar / 07 May 2016
Tata Group promoted Titan Company, the watch giant, has posted negative Q4FY16 results in the wake of the regulatory restrictions for the jewellery business. Recently Titan Company has acquired a stake in Chennai based online jewellery retailer Caratlane.
Tata Group promoted Titan Company, the watch giant, has posted negative Q4FY16 results in the wake of the regulatory restrictions for the jewellery business. Recently Titan Company has acquired a stake in Chennai based online jewellery retailer Caratlane.
Company’s consolidated total income from operations stands at Rs 2456.3 crores in this quarter as against Rs 3426.16 crores in Q3FY16, a decrease of 28.3 per cent. Company’s EBITDA has come in at Rs. 210.09 crores as against Rs. 309.93 crores, a decrease of 32.2 per cent.
Company’s Net Profit stands at Rs 184.11 crore in Q4FY16 as compared to Rs 225.29 crore in the last quarter i.e. a decrease of 18.3 per cent.
The Year on Year (YOY) results show that, Company’s consolidated Revenues have fallen by 1.6 per cent, which was Rs 2496.19 crore in the same quarter last year. EBITDA of company has also fallen by 22.2 per cent from Rs 270.11 crore YOY. Net profit (PAT) too has witnessed a decrease of 14.4 per cent from Rs 215.09 crore.
March 2016 closed on a negative note for Titan Company. Company’s consolidated total income from operation has decreased by 5.4 per cent to Rs. 11264.53 crore for the year ended March 2016 as compared to Rs 11903.21 crore for FY15. EBITDA too has declined to Rs. 945.49 crore for FY16 as compared to Rs 1153.36 crore in FY15, a decrease of 18 per cent. Net profits have decreased by 14.2 per cent from Rs 823.07 crore in FY15 to Rs 705.85 crore in FY16.
Titan Company stock closed at Rs 362.65 on Friday i.e. an increase of 0.96 per cent.
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