Titan Q4 results: Titan profit jumps almost 50 per cent to Rs 734 cr on YoY

Titan Q4 results: Titan posted a standalone profit of Rs 734 crore in the January-March quarter, beating Zee Business' estimate of Rs 713 crore. The company had posted Rs 491 crore standalone profit in the corresponding quarter a year ago.

The company's standalone revenue jumped 25 per cent to Rs 8,753 crore in the quarter ended March from Rs 6,977 crore in the same quarter last year.

While its consolidated income rose 26 per cent to Rs 9,419 crore in FY23 from Rs 7,497 crore in the fourth quarter of FY22. 

The corresponding PBT before exceptional items was Rs 979 crore, up 37 per cent, compared to Q4FY22. 

How Titan's segments fared 

The company's revenue from watches and wearables jumped from Rs 622 crore to Rs 871 crore on year on year (YoY). Its jewellery segment saw an increase from Rs 6,507 to Rs 8,631 on YoY.

The revenue from the eyecare segment, meanwhile, jumped from Rs 134 crore to Rs 165 crore YoY. 

The company said in its filing that the number of its outlets in the fourth quarter was 763 with a reach in 253 cities.    

Its watches and wearables have a reach in 306 cities. It operates its business from 1,005 exclusive brand outlets and 8,000 multi-brand outlets while having manufacturing and assembly facilities at five places. 

Its eyecare business has 901 retail stores in 352 cities across the country.   

The fragrance business has a reach in more than 700 Titan World and Fastrack outlets, while having a reach in more than 2,200 multibrand outlets.  

As far as its fashion accessories (thoughtfully designed bags) segment is concerned, it has its brands in 40 Shopper Stops. The accessories are also available in Tata Clic, Nayka, Mintra, and irth.in.  

The company said that Fastrack Girls Bags are available in 80 department stores. While they are also available on Tata Clic, Nayka, Mintra, Flipkart, and Amazon. 

Q4FY23 jewellery results highlights

The company saw a growth of 15 per cent (YoY) in the number of its customers, while domestic operations soared 21 per cent (YoY).

There was growth in high-value band, vending segment has recovered, and retail sales have also improved.

Margin in the studded category is at pre-COVID levels because the higher value in Q3 has ended the low-price diamond inventry.

The company said that it opened 18 Mia stores and one Zoya store in the quarter ended March. 

The income has increased 41 per cent because of improved domestic operations.

Its watch segment has grown 32 per cent while the wearable segment soared 170 per cent in Q4. 

More than 10 models of smart brand watches have registered record sales.

Premium brands have fared well in the reviewed quarter.

Fastrack's analogue and digital watches have recorded record sales for the second consecutive quarter.

In Q4, the company opened a record 52 stores, including Titan Word's 21, Helios' 16 and Fastrack's 15.