Titan Q1 Results: Net profit edges down to ₹770 crore

Leading jewellery and watchmaker Titan Company Ltd announced a modest decrease in standalone net profit for the first quarter of FY24.

Key Financial Highlights:

Advertisement

  • 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%