
Leading jewellery and watchmaker Titan Company Ltd announced a modest decrease in standalone net profit for the first quarter of FY24.
Key Financial Highlights:
- Net Profit:
- Current Quarter: ₹770 crore
- Previous Year: ₹777 crore
- Change: -0.9% year-on-year
- Revenue:
- Current Quarter: ₹12,053 crore
- Previous Year: ₹11,145 crore
- Change: +8.1% year-on-year
- EBITDA:
- Current Quarter: ₹1,211 crore
- Previous Year: ₹1,103 crore
- Change: +9.8% year-on-year
- EBITDA Margin:
- Current Quarter: 10.1%
- Previous Year: 9.9%
Despite a slight drop in profit, Titan’s revenue and EBITDA showed positive growth. The company’s performance was slightly below expectations, with a forecasted profit of ₹785 crore.
Financial Summary:
Metric | Current Quarter | Previous Year | Change |
---|---|---|---|
Net Profit | ₹770 crore | ₹777 crore | -0.9% YoY |
Revenue | ₹12,053 crore | ₹11,145 crore | +8.1% YoY |
EBITDA | ₹1,211 crore | ₹1,103 crore | +9.8% YoY |
EBITDA Margin | 10.1% | 9.9% | +0.2% |