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Last Updated : Aug 06, 2019 03:16 PM IST | Source: Moneycontrol.com

Titan Company Q1 standalone net profit at Rs 370.7cr

The watches business grew from Rs 594 crore in Q1FY19 to Rs 715 crore this year, growth of 20.4%.

 
 
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Titan Company has registered 6.2 percent jump in its Q1FY20 standalone net profit at Rs 370.7 crore against Rs 349.2 crore in the same quarter last fiscal.

Revenue of the company rose 14.4 percent at Rs 4,939.7 crore versus Rs 4,319 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) was up 14.1 percent at Rs 565.3 crore, while margin was flat at 11.4 percent.

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Company's other income stood at Rs 56 crore, while finance costs were at Rs 68.1 crore.

The jewellery division recorded an income growth of 13.3 percent in the first quarter.

The watches business grew from Rs 594 crore in Q1FY19 to Rs 715 crore this year, growth of 20.4 percent.

The eyewear business grew 13.1 percent to Rs 149 crore, while other businesses comprising accessories, fragrances and sarees grew 37.9 percent, to Rs 36 crore.

Bhaskar Bhat, Managing Director of the Company stated that "The macro-economic environment coupled with lower consumption have impacted some of our businesses. The retail growth in jewellery was driven by encouraging performance in the studded as well as wedding jewellery segments.

At 15:02 hrs Titan Company was quoting at Rs 1,060.00, up Rs 23.20, or 2.24 percent on the BSE.

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First Published on Aug 6, 2019 03:16 pm

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