Titan is ready to announce its third quarter results tomorrow
NEW DELHI: Titan Company is ready to announce its third quarter results on Tuesday, January 4.
Before the third quarter results, the company witnessed a different consumer response to different business segments: jewelry, watches and glasses. According to the company, its retail sales in the jewelry segment were better than expected at the beginning of the third quarter. This could be due to a good wedding season and the reasonable inelasticity of wedding jewelry. However, growth in the watch and eyewear segments was difficult to achieve due to the forced closure of stores due to protests in the Northeast and in many other parts of the country.
In the second quarter, Titan reported a year-on-year increase of 1.83 percent in independent earnings to Rs 320.16 crore. The jewelry business had a moderate quarter due to high gold prices, and the segment reported revenues of Rs 3,528 million rupees.
On Monday, February 3, the company's shares last traded on EEB at Rs 1185.95 and Rs 1186.40.
The following is a graphical presentation of Titan's performance for three months in NSE (National Stock Exchange) and BSE (Bombay Stock Exchange):