Titan Q4 results: Net profit grows 21% to Rs 357 crore; beats Street estimates
Analysts in an ETNow poll had projected the figure at Rs 281 crore.
By ETMarkets.com | Updated:
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New Delhi: Jewellery maker Titan on Monday posted a growth of 21.11 per cent in net profit to Rs 356.79 crore for the quarter ended March 31.
Analysts in an ETNow poll had projected the figure at Rs 281 crore.
Total income, however, declined 5.46 per cent year-on-year (YoY) to Rs 4,468.84 crore.
“The standalone growth in profit before tax for the quarter, despite the decline in the revenue, was possible due to significant compression of cost in anticipation of the disruption,” Titan said in a release.
The standalone profit before tax stood at Rs 516 crore during the quarter under review, against Rs 465 crore last year.
The company was impacted significantly in the second half of March 2020 due to Covid-19 pandemic with the shutting down of all stores. The jewellery business had a good quarter till lockdown despite high gold prices, Titan said.
More to come.
Analysts in an ETNow poll had projected the figure at Rs 281 crore.
Total income, however, declined 5.46 per cent year-on-year (YoY) to Rs 4,468.84 crore.
“The standalone growth in profit before tax for the quarter, despite the decline in the revenue, was possible due to significant compression of cost in anticipation of the disruption,” Titan said in a release.
The standalone profit before tax stood at Rs 516 crore during the quarter under review, against Rs 465 crore last year.
The company was impacted significantly in the second half of March 2020 due to Covid-19 pandemic with the shutting down of all stores. The jewellery business had a good quarter till lockdown despite high gold prices, Titan said.
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More to come.
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