Moneycontrol Bureau
Watch and jewellery maker Titan Company today said clocked third-quarter revenues of Rs 2922.5 crore crore, up 9.4 percent from Rs 2,676 crore it posted in the same quarter last year and against a CNBC-TV18 poll of Rs 2,802 crore.
The company’s EBITDA stood at Rs 276 crore, 12.5 percent higher compared to Rs 245 crore YoY and versus a poll estimate of Rs 267 crore while net profit of Rs 190.7 crore was up 15.2 percent (Rs 165.6 crore YoY) versus a forecast of Rs 189 crore.
The income from watches was Rs.442.63 crore in Q3, marginally lower than last year. On the other hand, jewellery business recorded a growth of 11.2 percent in Q3 over last year.
“Tanishq ran two successful campaigns in this quarter, the "affordable Tanishq" and a new "wedding" campaign. Both these campaigns were well appreciated and helped in addition of new customers,” the company said in its earnings statement. “Tanishq had an income of Rs.2347.39 crore this year in Q3 as compared to Rs.2110.70 crore last year.”
Other businesses of the company comprising precision engineering, a B2B business, the eyewear business and accessories grew by 14.8 percent in Q3. The combined income of these businesses in Q3 was Rs. 133.67 crore as compared to Rs.116.42 crore last year.
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