Published
May 11, 2018
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Titan Ltd Q4 profit up 71 percent to Rs 304 crore, revenue at Rs 4126

Published
May 11, 2018

Tata Group firm, Titan Limited, saw its net profit rise 71 percent to Rs 304 crore (approx $45.4 million) for the fourth quarter ended March 31. The company had posted net profit of Rs 178 crore (approx $26.5 million) in the same quarter a year ago.
 

Titan- Facebook


Titan's total income stood at Rs 4,126 crore (approx $615 million) during the quarter under review as compared to Rs 3,693 crore (approx $550.5 million) in the previous year.
 
For 2017-18 financial year, Titan reported net profit of Rs 1,102 crore (approx $164.4 million) compared with Rs 697 crore (approx $104 million) in the previous year. The company’s total revenue for the fiscal stood at Rs 16,245 crore as against Rs 13,453 crore in 2016-17.

Bhaskar Bhat, Managing Director Titan in a statement said, "The company achieved excellent topline and bottom line growth in the jewellery and watches business. The jewellery business scaled new heights in terms of revenue growth and profitability."
 
“The business gained from tailwinds provided by regulatory developments like GST. The watches business had a great year too with the re-crafting strategy resulting in the highest top-line growth in recent years, a jump in margins and the highest ever profit. The eyewear business went through a tough period, especially in the sunglass segment," he added.
 
Titan added 114 stores across its various divisions and ended the fiscal with 1480 stores, with over 1.9 million sq.ft of retail space.

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