Titan Q1 Revenue Upsurges By 19 While Profit Falls 2 Yoy To Rs 777 Crore

Top Stories

Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read. August 2, 2024 at 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read. August 2, 2024 at 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read. August 2, 2024 at 12:36 PM

Stock chart

Titan Q1 revenue upsurges by 19% while profit falls 2% YoY to Rs 777 crore

ri-calendar-2-lineAug 3, 2023

By: BlinkX Research Team

FbkFbkTwitterTelegram

Titan, a retailer of fashion and lifestyle products owned by the Tata Group, reported a 2% decline in its standalone profit after tax for the quarter ended in June 2023.

Its quarterly revenue increased 19% YoY to Rs 10,306 crore. The company's margin dropped 239 bps to 9.9% during the quarter.

Revenues in Titan's core jewelry category increased 19% YoY to Rs 9,070 crore due to strong demand during Akshaya Tritiya and an alluring gold exchange program. In comparison to Q1FY23, buyer growth was 14%, and average ticket sizes increased by 6%.

Additionally, Titan made expansion investments through aggressive exchange offers, brand-building initiatives, and price rationalizing programs to increase market share.

Titan's watches and wearables business reported total revenue of Rs 890 crore, an increase of 13% over Q1FY23 and supported by an 81% increase in the wearables market. The premiumization theme was prominent, with Titan and international brands seeing strong buying momentum and recording solid double-digit growths in the analog market.

In the range of wearables, the Fastrack brand had the fastest growth, registering significant increases. EBIT for the quarter was Rs 102 crore with an 11.5% EBIT margin.

Revenue for the eyecare unit increased 11% YoY to Rs 203 crore in Q1. EBIT was 35 crore rupees with a 17.2% EBIT margin.

The emerging businesses, which include Indian dress wear, fashion accessories, and perfumes, grew by 37% YoY in the quarter. Taneira increased 81% YoY. A loss of Rs. 27 crore was recorded by this business sector.

With a margin of 2.1%, Caratlane's total quarterly income increased by 32% to Rs 640 crore.

Titan Engineering and Automation Limited (TEAL) recorded a loss of Rs 12 crore with business falling by 32% YoY to Rs 61 crore. The aerospace industry saw record-high order bookings, and passenger traffic reached pre-Covid levels both domestically and internationally. Order bookings in the manufacturing services sector were also strong.

Source: Media Reports

Related News

News Thumbnail
Quarterly Result

BLS's Q2FY24 Financial Performance Review

2 mins read. November 6, 2023 at 08:56 AM

News Thumbnail
Quarterly Result

Interglobe Aviation's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 11:31 AM

News Thumbnail
Quarterly Result

Titan's Q2FY24 Financial Performance Review

2 mins read. November 3, 2023 at 10:59 AM

News Thumbnail
Quarterly Result

Zomato's Q2FY24 Financial Performance Review

3 mins read. November 3, 2023 at 09:50 AM

Related Blogs

Stock chartDemat Account

Biggest Winners and Losers in MSCI: Key Movers in Global Indices 2025

0 people read

3 mins read . Aug 20, 2025

Stock chartMutual Fund

What MF Big Boys Bought and Sold – Top Mutual Fund Stock Activity in 2025

0 people read

8 mins read . Aug 18, 2025

Download app

Access BlinkX
everywhere
across device

Join the Future of Trading

with BlinkX

#ItsATraderThing

Open Trading Account
Verify your phone
+91
*By signing up you agree to our terms & conditions