Titan Q2 PAT seen up 26% at Rs 161 cr

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Titan Q2 PAT seen up 26% at Rs 161 cr

Watch manufacturer Titan Industries is expected to report a profit after tax of Rs 161 crore in the second quarter of FY12, a growth of 26.2% as compared to Rs 127.6 crore in the corresponding quarter of last fiscal.

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Watch manufacturer Titan Industries is expected to report a profit after tax of Rs 161 crore in the second quarter of FY12, a growth of 26.2% as compared to Rs 127.6 crore in the corresponding quarter of last fiscal.

Sales are seen going up by 36.3% to Rs 2,093 crore from Rs 1,536 crore year-on-year. However, operating profit margin is expected to be at 10.1% as against 11.30% during the same period.

Expectations

* Strong around 40% plus sales growth in Jewellery (Extent of topline surprise will hinge on jewellery)

* Being driven by a 35% rise in gold prices; there could be slight volume moderation

* Watches sales growth expected to be stable at around 16-18%

* Store expansion drive will weigh on margins, expect around 2% contraction

* Also a high profit base in watches will mean contraction in margin YoY (Commodity pressures)