ICICIdirect.com has come out with its second quarter (July-September) earnings estimates for the retail sector. The brokerage house expects Titan Industries to report a 10.3 percent decrease quarter-on-quarter (down 9.1 percent Y-o-Y) in net profit at Rs 163.7 crore.
Revenues of Titan Industries are expected to decrease by 20.4 percent Q-o-Q (up 8 percent Y-o-Y) to Rs 2,459.2 crore, according to ICICIdirect.com.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 9.3 percent Q-o-Q (down 1.4 percent Y-o-Y) to Rs 245.9 crore.
ICICIdirect.com's Report on Titan Industries:
The broking expect muted revenue growth of 8.0 percent Y-o-Y (Rs 2,459.2 crore) due to lower jewellery segment growth. Jewellery volume growth is expected to dip to 10 percent led by retail expansion.
Operating margin is likely to dip 1-10 percent on lower share of jewellery segment. Hence, PAT is likely to de-grow 9.1 percent Y-o-Y to Rs 163.7 crore).
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