Whats new?
Download app
Access BlinkX everywhere across devices
Our updates are just like your noodles. Instant. You want?
Notifications can be turned off anytime from browser settings
2 mins read . 03 Nov 2023 . 10:59 AM
In this financial performance review, we delve into the results of Titan for the second quarter of fiscal year 2024 and analyze key metrics, including revenue, expenses, net profit, and margin.
| Particulars | Q2FY23 | YoY (% change) | Q1FY24 | QoQ (% change) | Q2FY24 |
| Total Income (₹crs.) | 9,224 | 37.17 | 12,011 | 5.35 | 12,653 |
| Total Expenses (₹crs.) | 8,082 | 41.08 | 11,009 | 3.57 | 11,402 |
| Net Profit (₹crs.) | 835 | 9.7 | 756 | 21.16 | 916 |
| Margin (%) | 9.05 | -1.81 | 6.29 | 0.95 | 7.24 |
REVENUE:
Titan reported a total income of ₹12,653 crores in Q2FY24, reflecting a substantial increase of 37.17% compared to Q2FY23. There is also a modest increase of 5.35% quarter-on-quarter. This remarkable growth in revenue is indicative of Titan's continued market success.
EXPENSES:
Total expenses for Q2FY24 reached ₹11,402 crores, showing a YoY increase of 41.08%. In the preceding quarter, Q1FY24, the company incurred expenses of ₹11,009 crores, indicating a sequential rise of 3.57%.
NET PROFIT:
Titan reported a net profit of ₹916 crores in Q2FY24, showcasing a growth of 9.7% compared to Q2FY23. This growth in net profit is further emphasized by the substantial 21.16% increase compared to the preceding quarter, Q1FY24, when Titan reported a net profit of ₹756 crores.
MARGINS:
Titan's margin in Q2FY24 was 7.24%, indicating a recovery from the margin of 6.29% in the same quarter of the previous year, Q2FY23. This margin increase is a noteworthy positive trend in the company's financial performance, showcasing improved profitability.
In conclusion, Titan's financial performance in the second quarter of fiscal year 2024 demonstrates remarkable revenue growth, controlled expense management, increased net profit, and an improved margin. The company's ability to deliver growth across key financial metrics is a testament to its strong market presence and strategic operations.
Stay tuned for more updates on upcoming financial performances.