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Q1 outcomes: Titan web revenue surges 13 instances to Rs 793 crore

Titan Firm has reported that revenue after tax (PAT) elevated 13 instances to Rs 793 crore within the first quarter, up from Rs 61 crore in the identical — pandemic impacted — quarter final 12 months.

Income elevated by 199 per cent to Rs 8,649 crore, in comparison with Rs 2,890 crore within the quarter underneath evaluation. The corporate posted sturdy income figures throughout all its companies,

The jewelry enterprise registered earnings of Rs 7,600 crore, a rise of 208 per cent, in comparison with Rs 2,467 crore in Ql FY22 (excluding bullion gross sales). It attributes the expansion to Akshaya Tritiya gross sales and a better-studded combine. The jewelry enterprise reported an EBIT of Rs 1,027 crore, in comparison with Rs 207 crore in June 2022. 

The watches and wearables enterprise reported a quarterly earnings of Rs 785 crore, a rise of 169 per cent in comparison with Rs 292 crore in Ql FY22. This section reported an EBIT of Rs 103 crore, in opposition to a lack of Rs 56 crore in Q1FY22. 

The EyeCare enterprise additionally reported its highest quarterly earnings of 173 per cent at Rs 183 crore, in comparison with Rs 67 crore in June 2022. EyeCare posted an EBIT of Rs 36 crore in comparison with a lack of Rs 13 crore in Q1FY22. Different companies, together with Indian costume put on, fragrances, and style equipment, reported an earnings of Rs 56 crore, in comparison with Rs 14 crore in Ql FY22. Nonetheless, EBIT for this section reported a lack of Rs 10 crore, in comparison with a lack of Rs 16 crore in Q1FY22. 

“The monetary 12 months has begun properly for us and we delivered a powerful efficiency in Q1 throughout our enterprise segments. Regardless of the difficult macro setting, the outlook for the remaining quarters seems optimistic and we are going to proceed to execute our funding plans in India in addition to chosen worldwide geographies,” mentioned C.Ok. Venkataraman, Managing Director, Titan Firm.

The corporate has added 125 shops through the 12 months. The retail chain (together with Caratlane) has 2,303 shops throughout 366 cities with an space exceeding 2.9 million sq. ft. as of June 2022.

Revealed on

August 05, 2022

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