Titan Q1 Results: Standalone net profit falls marginally YoY to Rs 770 crore, revenue rises by 9%

Titan Company on Friday reported a standalone net profit of Rs 770 crore for the quarter ended June 30, 2024, which was down by nearly 1% over Rs 777 crore reported by the company in the year-ago period.

The total revenue from operations stood at 11,263 crore, which was higher by 9.3% versus Rs 10,306 crore reported by the company in the corresponding quarter of the last financial year.

The company's earnings before interest & tax (EBIT) was reported at Rs 1,203 crore, up by 9.1% over Rs 1,103 crore reported in the year-ago period.


Segment-wise, jewellery reported a total income uptick for the quarter at 9% over Q1FY24 to Rs 9,879 crore. The India business grew 8% in the same period.

As for the Watches & Wearables segment, the business recorded a total income of Rs 1,021 crore, which was up by 15% over Q1FY24. The domestic business grew 14% in the same period.

In the EyeCare segment, the Tata Group company reported a total income of Rs 209 crore, which grew 3% over Q1FY24. Business recorded an EBIT of Rs 20 crore, clocking a margin of 9.6% for the quarter.

The Emerging Businesses, comprising Indian Dress Wear ('Taneira'), Fragrances, Fashion Accessories (F&FA), recorded a total income of Rs ~80 crore for Q1FY25 growing 5% over Q1FY24 (excluding the discontinued belts and wallets sub-segment, comparable growth was 13% over Q1FY24).

The businesses together recorded a loss of Rs 26 crore for the quarter.

Meanwhile, the international jewellery business recorded growth of 92% to Rs 350 crore compared to Q1FY24. In the preceding 12 months, 8 new Tanishq stores were opened in various geographies, the company filing said. It added that 4 stores were opened in the GCC region, 3 stores in North America and 1 store in Singapore.

The GCC region (11 stores) witnessed healthy revenue growth of 80% in the jewellery segment during Q1FY25.

Among its key subsidiaries, Caratlane Trading Private Limited reported total Income growth at 30% to Rs 832 crore compared to Q1FY24 (excluding digigold sales, comparable growth was 18% in the same period). EBIT came in at Rs 38 crore for Q1FY25 clocking a margin of 5.1%.