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WMR - January 2018

Industry Report

TITAN COMPANY LTD

REPORTS A GROWTH OF 78.3% IN Q2 PROFITS


Titan Company Ltd announced an exceptional growth in profits while reporting a growth of 28.9% in income in the second quarter. The income from operations in the second quarter, July to September 2017, was Rs. 3378 crores against last year’s income of Rs. 2620 crores during the same period. The income for April to September 2017, the first half of this financial year, stands at Rs. 7322 crores, registering a growth of 35.8% over last year.

The net profit for Q2 is Rs. 305 crores, against Rs. 178 crores last year, recording a growth of 70.9%. The net profit for the six months ended September 2017 is Rs. 572 crores. The profit before tax is Rs. 424 crores for Q2, a growth of 73.8% and Rs. 795 crores for the first half, a growth of 89.1%.

The jewellery business had another good quarter following an extremely encouraging first quarter and recorded an income of Rs. 2710 crores as compared to Rs. 1987 crores last year. The jewellery business grew by 37% over last year in Q2. The income from watches business for the quarter was Rs. 570 crores against Rs. 523 crores in the previous year, a growth of 8.8%. The jewellery division continues to gain market share and watch business is seeing very good volume growth as well. The Eyewear business grew by 3.5% in the quarter, recording an income of Rs. 98 crores as against Rs. 95 crores last year. Other segment of the company comprising accessories grew by 53% in Q2 recording an income of Rs. 26 crores. The last year income for this segment in Q2 was Rs. 17 crores.

The complete industry report is in Watch Market Review - January 2018 edition on page no. 42