Titan Q1 profit seen up 22%, jewellery biz growth may be 18-20%

Watches and jewellery manufacturer Titan Company's profit during April-June quarter may increase 21.85 percent year-on-year to Rs 184 crore and revenue at 15 percent to Rs 3,111 crore, according to average of estimates of analysts polled by CNBC-TV18.

Revenue growth for jewellery segment, which contributes 78 percent to total revenue, is expected to grow at 18-20 percent for the quarter. The growth may be aided by low base in year-ago period and redemptions from Golden Harvest savings scheme which was absent in Q1FY16.

Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) in Q1 may increase 27.48 percent to Rs 283 crore and margin may expand 80 basis points to 9 percent on yearly basis due to higher gold prices and better operating leverage.

Gold surged 25 percent year-to-date.