Titan Q4 Results: Net Profit Slips 7 Per Cent To Rs 527 Crore, Sales Fall 1.14 Per Cent To Rs 7,267 Crore
Titan Company's total income rose 4.25 per cent to Rs 7,872 crore during the reported period, as against Rs 7,551 crore in the corresponding period of the preceding financial year
New Delhi: Titan Company, a Tata group firm, on Tuesday logged a decline of 7.21 per cent in its consolidated net profit at Rs 527 crore in the quarter ended March (Q4).
In a regulatory filing, Titan said, “The company had reported a net profit of Rs 568 crore in the January-March quarter of FY21.”
The company’s total income rose 4.25 per cent to Rs 7,872 crore during the reported period, as against Rs 7,551 crore in the corresponding period of the preceding financial year.
Titan’s revenue was down 1.14 per cent to Rs 7,267 crore in Q4 of FY22, as against Rs 7,351 crore a year-ago period, while its total expenses were at Rs 7,165 crore in Q4 of FY22, up 5.04 per cent from Rs 6,821 crore a year-ago period.
“Q4 FY22 ended with a satisfactory performance despite partial lockdowns, volatility in gold prices and uncertainty in a fragile geo-political situation,” said Titan, adding, “Excluding bullion sale, revenue declined by 2 per cent compared to Q4FY21.”
From jewellery segment, Titan’s revenue stood at Rs 6,843 crore in the January-March quarter of FY22, up 2.47 per cent against Rs 6,678 crore in the corresponding quarter a year ago.
Watches and wearables section reported a revenue of Rs 625 crore, a rise of 11.8 per cent, as against Rs 559 crore in the same period of previous financial year.
Revenue from eyecare was at Rs 134 crore, up 5.51 per cent against Rs 127 crore in Q4FY21.
The company posted a 63.57 per cent increase in its revenue from others segment in the January-March quarter at Rs 229 crore, as against Rs 140 crore a year ago.
Titan's consolidated net profit for the entire financial year, stood at Rs 2,198 crore, which was up over twofold from Rs 974 crore, the reported net profit of FY20-21.
The company's total income was at Rs 29,033 crore in FY21-22, this was 32.99 per cent higher than Rs 21,830 crore in the year-ago period.
C K Venkataraman, MD, Titan, said: "Despite frequent disruptions in the quarter owing to Covid wave 3 and other geo-political factors, the quarter has been satisfactory in terms of growth and profitability."
Titan Company is well prepared and looking forward to an exciting Q1 with all its stores ramped up for a much-awaited Akshaya Tritiya festival this year, the MD added.
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