Watch-to-jewellery manufacturer Titan Company's profit after tax is seen rising 29.8 percent to Rs 242 crore in the quarter ended September 2014 compared to Rs 187 crore in the year-ago period, according to the average of estimates of analysts polled by CNBC-TV18.
Total income from operations may grow 40.2 percent to Rs 3,265 crore from Rs 2,329 crore during the same period. Operating profit is seen rising 33.5 percent year-on-year to Rs 350 crore but margin may fall 50 basis points to 10.7 percent in the quarter gone by.
Results are expected to be strong due to one-time benefit from Golden Harvest Scheme.
Jewellery
Analysts expect sharp 40-50 percent Y-o-Y jump in jewellery sales due to closure of Golden Harvest Scheme and festive demand.
Company had to close Golden Harvest Scheme on regulatory requirements. Volumes may be exceptionally high on scheme closure.
Watches
Analysts expect strong growth of 15 percent led by better mix of volumes, price hikes, new products and low base of last year.
Margins
Analysts see some pressure on margin due to higher sales of low margin gold jewellery and higher level of discounted sales. Factors to watch out for are comments on consumer demand in jewellery & watches, expansion plans and update on new modified version of Golden Harvest Scheme.
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