Titan Company Ltd on Tuesday reported a 3.5 percent year-on-year (YoY) jump in net profit at Rs 311.65 crore for the second quarter ended September 2019.
In the corresponding quarter last year, the company posted a net profit of Rs 301.11 crore. CNBC-TV18 Polls had predicted a profit of Rs 378 crore for the quarter under review.
Its total income in the September 2019 quarter rose to Rs 4,693.34 crore, compared with Rs 4,595.13 crore in the year-ago period, Titan Company said in a regulatory filing.
The income from operations in the second quarter, July to September 2019, was Rs 4,435 crore, against last year's income of Rs 4,407 crores during the same period.
The Standalone PBT for Q2 is Rs 429 crore, against Rs 446 crore last year. The growth in the profit before tax for the quarter was impacted due to the flat growth in revenues compounded by an increase in certain overheads, it said.
Titan's retail chain stands at 1,668 stores, as on September 30, 2019, with a retail area crossing 2.1 million square feet nationally for all its brands.
CK Venkataraman, managing director, said, "The company has done well across all its businesses in the second quarter given the subdued market and consumer sentiments. For the second half of FY 20, we are gearing up on all fronts to stimulate demand with innovative campaigns for new exclusive collections that are lined up for launch across all our brands."
Shares of Titan Company Ltd ended at Rs 1,284.40, down Rs 15.05, or 1.16 percent on the BSE.
First Published: IST