Moneycontrol
Feb 01, 2012 03:13 PM IST | Source: Moneycontrol.com

How do analysts view Titan's Q3 results?

Titan Industries shares slipped over 4% on Wednesday after the watch and jewellery maker reported little lower-than-expected 19% year-on-year rise in third quarter net profit and margins also disappointed investors.

 
 
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Moneycontrol Bureau


Titan Industries shares slipped over 4% on Wednesday after the watch and jewellery maker reported little lower-than-expected 19% year-on-year rise in third quarter net profit and margins also disappointed investors.


The company's net profit was at Rs 163.91 crore in October-December, compared with 137.6 crore in the year ago quarter. Revenue was up 25.6% year-on-year at Rs 2,471.5 crore.


Analysts on average had expected Titan to report a third quarter net profit of Rs 168 crore on sales of Rs 2,500 crore, according to a CNBC-TV18 poll.

"Management mentioned gold jewellery offtake (74% of segment sales, including coins/bars) remains under pressure. It is betting on diamond sales

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