Titan Company Q3FY16 standalone net profit rises 18% yoy to Rs. 225 crore : Mixed Estimates
The company's standalone revenue stood at Rs. 3,426.16 crore, increasing 17.23% yoy and 28.15% qoq
Titan Company Ltd, world's fifth largest watch manufacturer, reported standalone net profit of Rs. 225.29 crore for the quarter, registering growth of 18.12% yoy and 54.96% qoq. The company's revenue stood at Rs. 3,426.16 crore, increasing by 17.23% yoy and 28.15% qoq.
Its standalone core operating profit of Rs. 309.93 crore for the quarter, clocked growth of 12.37% yoy and 52.86% qoq. Operating profit margin for the current quarter at 9.05% contracted by 39 bps yoy but expanded by 147 bps qoq.
For nine months ended December 31, 2015, the company reported standalone net profit of Rs. 521.74 crore, declining by 14.18% yoy. Its standalone revenue for the period stood at Rs. 8,808.23 crore, registering decline of 6.37% yoy.
Titan Company's core operating profit stood at Rs. 2,295.54 crore, recording growth of 35.54% yoy. Operating margin for the current period at 26.06% expanded by 1739 bps yoy.
Result Highlights: (Rs. in crore)
| Reported Results | Bloomberg Estimates | Variance (%) | |
| Standalone Revenue | 3,426.16 | 3,355 | 2.12 |
| Standalone Net Profit | 225.29 | 235.49 | [4.33] |
Standalone EPS for the quarter stood at Rs. 2.54.
Management Comments:
Bhaskar Bhat, Managing Director of the Company stated that "The Company has clocked income growth of 17.5% in the Ouarter over the previous year primarily on account of growth in jewellery over a low base. Festive season demand remained lukewarm and needed shoring up with consumer schemes. Our effort continues therefore to be one of generating demand, through new product introductions and network expansion while retaining our focus on cost control."
Stock Commentary:
Titan Company Ltd ended at Rs. 339.3, down by 9.65 points or 2.77% from its previous closing of Rs. 348.95 on the BSE.
The scrip opened at Rs. 350 and touched a high and low of Rs. 350 and Rs. 335 respectively. A total of 1135787(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 30979.78 crore.
The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 448 on 03-Feb-2015 and a 52 week low of Rs. 303 on 01-Oct-2015. Last one week high and low of the scrip stood at Rs. 358.2 and Rs. 337.4 respectively.
The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 25.27 % and 21.67 % respectively.
The stock traded above its 50 DMA.
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