Titan Q2 Profit Rises 9.7% to Rs 916 Crore - Business News
Nov 03, 2023 15:27
Titan Company Ltd's net profit increased by 9.7% to Rs 916 crore in Q2 FY24, driven by strong sales growth. Read more about Titan's financial performance.
Photograph: Courtesy, Titanwatches/X
New Delhi, Nov 3 (PTI) Jewellery and watchmaker Titan Company Ltd on Friday reported an increase of 9.7 per cent in its consolidated net profit to Rs 916 crore in the second quarter ended on September 2023.
The company posted a net profit of Rs 835 crore in the July-September period a year ago, according to a regulatory filing from the Tata Group-managed firm.
Titan's sales rose 25 per cent to Rs 10,708 crore during the quarter under review as against Rs 8,567 crore in the corresponding quarter a year ago.
Its total expenses in the September quarter stood at Rs 11,402 crore, up 41.07 per cent year-on-year.
The total income of Titan, a joint venture between Tata Group and Tamilnadu Industrial Development Corporation, in the September quarter grew 37.17 per cent to Rs 12,653 crore.
Shares of Titan Company Ltd were trading 2.33 per cent higher at Rs 3,275.95 apiece on the BSE.
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