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Moneycontrol » News Center » Business » Earnings
Titan Ind Q1 net profit up at Rs 32.2 cr
Published on Thu, Jul 31, 2008 at 16:51   |  Updated at Fri, Aug 01, 2008 at 11:04  |  Source : CNBC-TV18
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Titan Industries has declared its first quarter results. The company's Q1 standalone net profit was up at Rs 32.2 crore versus Rs 12.6 crore. Its - OPM were at 6.9% versus 6.15%.

Its standalone net sales were at Rs 810.3 crore versus Rs 666.6 crore. Its Effective tax rate was at 26.7% versus 19%.


Its operating profit was up 52% at Rs 56.8 crore versus Rs 37.3 crore on YoY basis.

Analysis:

  • Topline slightly lower than estimates
  • Lower than expected growth in watches and precision engineering
  •  NO updates but guessing better cost control inspite of higher gold prices ahve helpd in better margins
  • Lower tax rate has spurred bottomline; however would have been Rs 29cr with full tax rate of 34% - ahead than expectations of Rs 22 cr.

Particulars Jun-08 Dec-08 Sep-07
Net Sales / Interest Earned / Operating Income 810.31 813.45 725.11
Other Income 0.83 0.45 0.41
Total Income 811.14 813.9 725.52
Expenditure -754.25 -763.37 -645.46
Operating Profit 56.89 50.53 80.06
Interest -5.21 -5.12 -3.93
Profit Before Depreciation and Tax 51.68 45.41 76.13
Depreciation -7.73 -7.35 -7.24
Profit before Tax 43.95 38.06 68.89
Tax -11.73 -7.22 -22.59
Net Profit 32.22 30.84 46.3
Equity Capital 44.39 44.39 44.39

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