Titan posts stellar performance across the board
DSIJ Intelligence / 03 Aug 2017
Titan Company Ltd reported its results for the quarter ended June 30, 2017 today.
Titan Company Ltd reported its results for the quarter ended June 30, 2017 today.
The company's total sales for Q1FY18 came in at Rs 4021.32 crore, which represents a 12.16 per cent sequential increase and 42.24 per cent YoY increase.
Its operating profit (EBIT) for the quarter amounted to Rs 335.39 crore and its EBIT margin stood at 8.34 per cent.
The company reported PAT of Rs 237.97 crore, which represents a sequential QoQ increase of 33.57 per cent and a YoY increase of 96.85 per cent.
According to the company, the strong performance was due to 54 per cent growth in jewellery division to Rs 3307.7 crore. This growth in jewellery segment was driven by one of the best Akshaya Tritiya sales and also incremental sales in June 2017 in anticipation of higher GST rates.
Titan Company operates in various segments such as watches, jewellery, eyewear and others. The company’s retail chain store count stood at 1397 as on June 30, 2017.
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