Titan Q3 Outcomes: Revenue of Rs 1047 crore in December quarter, weakened outcomes – INA NEWS

Titan Q3 Outcomes: Tata Group firm Titan Restricted has launched the outcomes of the third quarter of FY25 on 4 February at the moment. Within the October-December quarter, the corporate’s internet revenue decreased barely to Rs 1047 crore. The corporate earned a revenue of Rs 1053 crore in the identical interval of a yr in the past. Stock loss elevated as a result of customized responsibility cuts on gold imports, affecting the corporate’s margin. The corporate’s shares noticed a slight rise of 0.53 per cent at the moment and this inventory has closed at Rs 3599.15 on BSE.

Titan outcomes weak by estimated

The whole revenue of Titan Restricted elevated by 25.5 per cent to Rs 17,723 crore in Q3Fy25, whereas in Q3Fy24 it was Rs 14,122 crore. In accordance with the 6 brokerage’s Moneycontrol Ballot, the jewelery firm’s income was anticipated to extend by 27.9 per cent to Rs 16688 crore. On the identical time, the web revenue was estimated at Rs 1159 crore. Because of this the corporate’s outcomes had been weak by analysts estimates.

The corporate’s revenue is greater than Rs 704 crore recorded within the final September quarter. The standalone revenue fell 4.9 per cent to Rs 990 crore. Within the third quarter, Ebitda rose by 2.8 per cent to Rs 1,641 crore, however the Ebitda margin fell by 210 foundation factors to 10.1 per cent within the third quarter, in comparison with 12.2 per cent final yr.

What did Titan’s MD say on the outcomes?

On the outcomes, Titan’s managing director CK Venkatarman mentioned, “Stock (positioned on the time of responsibility change), the loss associated to customized responsibility has been fully recovered on this quarter and therefore the profitability is low to that extent.” He hopes that the corporate will conclude the monetary yr with “good development” in comparison with FY 2024.

How was the efficiency of various segments

Home jewelery enterprise Gross sales elevated by 25 per cent, gross sales elevated by retailers or distributors (secondary gross sales) yearly by 28%, primarily as a result of enhance in shopper spending throughout festivals and enhance in marriage associated to marriage. The corporate mentioned in a presentation given to traders that gold jewelery and cash stay a favourite possibility amongst shoppers, each recorded a stronger of 27% in comparison with Q3Fy24.

Venkataraman mentioned, “Jewelery noticed its strongest quarter (to date) within the monetary yr, elevated by over 25% on the retail stage.” The whole revenue of the unit throughout the quarter rose 26% to Rs 14,697 crore as in comparison with Q3Fy24. Tanishq opened 11 new shops throughout the quarter, whereas MIA added 13 shops to the home market.

Watch and Wireables Phase The whole revenue was Rs 1,128 crore, which is 15 per cent larger than Q3Fy24. The corporate mentioned that the analog phase recorded a robust development of 20% in comparison with Q3Fy24, primarily as a result of Titan model, which recorded an 18% enhance in the identical interval. The Wearables phase has declined by 20 per cent, with 8 per cent and seven per cent decline in each the common promoting worth and quantity.

ICARE SEGME The whole revenue elevated by 15 per cent to Rs 194 crore in Q3Fy25 as in comparison with the earlier yr. The corporate said that within the product class, sunglass gross sales elevated by 35% than others, whereas the sale of frames and lens elevated mid-dobbal digit in comparison with Q3Fy24. In the meantime, the rising enterprise related to Indian Costume Put on, Perfume, Trend Equipment (F&P) recorded a complete revenue of Rs 118 crore with a rise of 5% as in comparison with Q3Fy24.