Titan Q1: Analysts expect PAT to grow 16% at Rs 166 cr

Total income is seen going up by 22.2% to Rs 2,470 crore from Rs 2,020 crore during the same period.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to go up by 23.4% YoY to Rs 227.7 crore in the first quarter of FY13.

EBITDA margin is expected to rise by 10 basis points to 9.2% versus 9.1% during the same period.

Jewellery volumes declined YoY as higher gold prices have impacted demand, but analysts feel the value growth should remain healthy due to around 35% higher gold prices.

Country wide jeweller strike for three weeks to protest against excise duty levy is likely to curtail volume growth during the quarter.

Key drivers for growth in the jewellery and watch segments will be store expansion.

Operating margin is likely to be under pressure on account of rupee depreciation and excise duty increase in watches.