Titan’s fourth quarter profit down 7 percent to Rs 491 crore, impact of Kovid and higher gold prices

Titan’s quarterly profit declined

Along with the results, the company has announced a dividend of Rs 7.5 per share for its investors. According to the company, partial Kovid restrictions, increase in gold prices have affected the data at many places during the quarter.

Titan ,Titan) The company has today released the results of its quarter ended March. The company said that in the fourth quarter, standalone profit (Q4 Profit491 crore with a decline of 7.18 percent. The company’s profit was Rs 529 crore in the same quarter a year ago. At the same time, the company’s sales income declined by 3.46 percent to Rs 6,749 crore during the period from Rs 6,991 crore last year. Whereas the total income of the company during the quarter (Income) increased from Rs 7169 crore to Rs 7,352 crore. There has been an increase of 3 percent in comparison to the previous year. Along with the results, the company has announced a dividend of Rs 7.5 per share for its investors. According to the company, partial Kovid restrictions, increase in gold prices have affected the data at many places during the quarter.

How was the company’s quarterly performance?

According to the information given by the company, the income from jewelery business declined by 4 percent to Rs 6,132 crore in the fourth quarter as compared to the previous year. However, income from watches and other products increased by 12 per cent to Rs 622 crore. There was a growth of 6 percent in the eyecare business compared to last year and it reached Rs 134 crore. At the same time, in the last full year, the company’s profit has increased by 148 percent to Rs 2180 crore. Which was Rs 877 crore in the previous financial year. At the same time, the income from business increased by 36 percent to the level of Rs 25,831 crore. Which was at the level of Rs 19,046 crore in the year 2020-21. The company added 269 new stores during the year. Along with Caratlane, the company’s retail chain comprises around 2200 stores spread across 337 cities and towns.

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CK Venkataraman, MD, Titan Company, said that during the quarter, due to apprehensions about the new wave of Kovid and the uncertainty caused by the ongoing crisis around the world, there was a continuous impact in the work, given that the performance of March can be called satisfactory. At present, the company is now fully prepared and is expected to do well in the first quarter.

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