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In an interview with CNBC-TV18, Bhaskar Bhat, MD of Titan said consumer sentiment has been weak and jewellery segment has been down because of fewer wedding dates and a weakening rupee. Moreover, walk-ins at stores were also poor.
Titan Industries, the world's fifth largest wrist watch manufacturer, is set to announce its results for the quarter ended June 2012. Analysts on an average expect the profit after tax to grow by 16% year-on-year to Rs 166.3 crore in the quarter.
Motilal Oswal has come out with its earnings forecast report on retail sector for the quarter ended June 30, 2012 (first quarter of FY13).
Prabhudas Lilladher has come out with its earnings forecast report on retail sector for the quarter ended June 30, 2012.
In an interview to CNBC-TV18, Sharmila Joshi, head of equities at Fairwealth Securities reviews Q4 earnings of Titan Industries, Punj Lloyd and United Phosphorus.
Eyeing a 25-30% top-line and bottom-line growth in FY13, Titan Industries is looking to take the jewellery business to the next level.
Titan Industries is to announce its Q4FY12 results. According to CNBC-TV18 estimates, Q4 net sales are seen up 28% at Rs 2,271 crore versus Rs 1,778 crore.
Titan Industries shares slipped over 4% on Wednesday after the watch and jewellery maker reported little lower-than-expected 19% year-on-year rise in third quarter net profit and margins also disappointed investors.
Titan Industries, the world's fifth largest watch manufacturer, is likely to report a profit after tax of Rs 168 crore in the third quarter of FY12, a growth of 18% as compared to Rs 195 crore in the corresponding quarter of last fiscal.
Motilal Oswal has come with its December quarterly earning estimates for Retail sector. According to the research firm, for Q3FY12, Retail Universe is expected to post 22% growth in sales and EBITDA is likely to grow 17.7%, with EBITDA margin declining 40bp.
After a hint of disappointment from the second quarter results, Bhaskar Bhat of Titan says essentially, it is the costs that are affecting the margins of the company. "There is an impact of the USD and there is an impact of the price of gold and hence, we have taken a 5-20% price increase," he explains.
ITC, Sterlite Industries and Titan Industries are set to announce their second quarter numbers of FY12 today.
Watch manufacturer Titan Industries is expected to report a profit after tax of Rs 161 crore in the second quarter of FY12, a growth of 26.2% as compared to Rs 127.6 crore in the corresponding quarter of last fiscal.
The middle-class sentiment has witnessed weak consumer sentiment this time, said managing director, Bhaskar Bhat. In an interview to CNBC-TV18, he said there was a sluggish demand in the watches segment.
Price hikes to negate higher raw material prices and excise duty on apparels is likely to boost revenues of retailers for April-June. Further, a consumer shift to low price private label products—known as down-trading—because of inflation, will benefit companies like Pantaloon Retail.
Jewellery and watch maker Titan Industries aims to clock sales of over Rs 8200 crore this financial year, up 26% over last year. In an exclusive interview with CNBC-TV18, the company’s managing director Bhaskar Bhat said he expects over 30% growth in jewellery segment and 22% watch segment.
Angel Broking has come out with its earning estimates on retail sector for the quarter ended March 2011. According to the research firm, Titan March quarter net sales are expected to go up by 50% at Rs 2001 crore, year-on-year, (YoY) basis.
Emkay Global Financial Services has come out with its earning estimates on Consumers sector for the quarter ended March 2011. According to the research firm, Titan Industries March quarter sales are expected to go up by 27.1% at Rs 1666.5 crore, year-on-year, (YoY) basis.
Angel Broking has come out with its earning estimates on retail sector for the quarter ended December 2010. According to the research firm, Titan December quarter sales are expected to go up by 50% to Rs 2001 crore, Year-on-Year, (Y-o-Y) basis.