Titan Q3 Results Preview: Net profit likely to grow 2% amid margin pressure
Titan Company is likely to report net profit of Rs 1,004 crore for the quarter ended December 2022, up two per cent on a year-on-year basis, according to Zee Business research. The company is all set to report its financial results on February 2.
Titan Company – a Tata group maker of jewellery, watches and eyewear – is likely to report a two per cent increase in net profit to Rs 1,004 crore for the October-December period, according to Zee Business research. The company is scheduled to report its financial results for the third quarter of the current financial year on February 2.
Titan’s revenue is expected to expand 11.7 per cent to Rs 10,631 crore for the three-month period compared with the corresponding period a year ago, according to the research.
The analysts peg the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 1,439 crore, up three per cent on a year-on-year basis. They expect the company's margin for the three-month period to be under pressure owing to a one-time gain in the base.
According to Zee Business research, Titan’s margin – a key measure of profitability – is estimated to decline by 120 basis points on a year-on-year basis to 13.5 per cent. The EBIT margins for the company's three main segments are estimated to be in the tune of 13.4-15.5 per cent.
Segment | Q3 EBIT margin estimate |
Jewellery | 13.4% |
Watches | 13.8% |
Eyewear | 15.5% |
Source: Zee Business research |
Investors will look out for any details on store expansion and its international business.
According to the company's business update for the quarter ended December 2022, the company reported a 12 per cent year-on-year increase in total sales with double-digit growth across segments.
Sales growth stood at 11 per cent in jewellery, 14 per cent in watches and 10 per cent in eyewear, according to the business update.
Catch latest market news, and latest updates on Economic Survey 2022-23 and Union Budget 2023-24 here.
For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
lok-sabha-elections-2024-final phase-7 voting-date-last day to vote general election timings-states-seats-key-candidates-constituencies-ls-polls-general-election-schedule-time-table-results-date
From Axis to IDFC First - These bank stocks can give bumper returns in 3-4 weeks – Check target price and stop loss
Rules Changing from June 1: Aadhaar card update, driving license, LPG price and others - Check Full List
Central Railways' 63-hour mega block to hit Mumbai local train services, check dates and other details
SBI Senior Citizen FD Interest Rates 2024: What Rs 2 lakh, Rs 4 lakh, and 6 lakh, and Rs 8 lakh investments will give you in 1-, 3-, and 5-year FDs
Gold and Silver rate today (May 30, 2024): Precious metal futures trade in red; yellow metal near Rs 72,000, white metal falls by nearly Rs 1,500
06:43 PM IST