Shares of Titan Company Ltd dropped 3.16% today to trade at Rs 3,483.85, down from its previous close of Rs 3,597.70, following the announcement of its Q3 FY25 financial results. The company reported a marginal 0.56% decline in consolidated profit after tax (PAT) at Rs 1,047 crore compared to Rs 1,053 crore in the same quarter last year. Despite the dip in PAT, sales surged 25.68% to Rs 17,550 crore, driven primarily by strong growth in the jewellery segment, which rose 26.62% year-on-year to Rs 16,134 crore.
During the quarter, Titan’s total expenses increased 27.47% to Rs 16,472 crore, impacting its profitability. Meanwhile, revenue from the watches and wearables segment rose 15.31% to Rs 1,137 crore, while the eyecare segment recorded a 16.66% growth to Rs 196 crore. The fragrances and women’s fashion accessories segments also witnessed impressive growth rates of 27% and 25%, respectively.
Brokerages remain optimistic despite today’s decline. Goldman Sachs has maintained its “Buy” rating with a target price of Rs 3,900 per share. Macquarie reiterated its “Outperform” rating with a target of Rs 4,150 per share, while Morgan Stanley maintained an “Overweight” stance, setting its target price at Rs 3,876 per share. The upbeat views from analysts highlight long-term growth prospects despite short-term challenges.
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