Titan Q2 Results: Tata group jewellery-to-watch maker's revenue at Rs 14,534 crore; margin shrinks 190 bps
Titan Q2 FY25 Results: Tata group firm Titan Company reported a mixed set of quarterly numbers on Tuesday. Titan—whose popular brands include Titan, Fastrack, Sonata, Titan Raga, Tanishq, Zoya and CaratLane—said it saw encouraging growth across its key segments following a muted show in the previous quarter.
Titan Q2 FY25 Results: Tata Company Ltd, a Tata group firm that manufactures a range of lifestyle products including jewellery and watches, on Tuesday reported a consolidated net profit of Rs 704 crore for the July-September period, marking a decline of 23.1 per cent compared with the corresponding period a year ago. Titan—whose popular brands include Titan, Fastrack, Sonata, Titan Raga, Tanishq, Zoya and CaratLane—said it saw encouraging growth across its key segments following a muted show in the previous quarter.
Titan registered a 16 per cent year-on-year increase in its revenue to Rs 14,534 crore for the second quarter of the current financial year, according to a regulatory filing.
Zee Business analysts had pegged the Tata group company's second-quarter net profit at Rs 1,080 crore and revenue at Rs 14,430 crore.
Titan's margin—a key measure of profitability—came in at 8.5 per cent for the September quarter, marking a decline of 280 bps on a year-on-year basis. According to Zee Business research, the Tata group firm was estimated to log a quarterly margin of 11.4 per cent.
Titan Q2 FY25 Earnings Segment Revenue | Jewellery, watches & wearables units clock double-digit percentage growth
Segment | Q2 FY25 revenue | YoY change (%) |
Watches and wearables | Rs 1,304 crore | 19.4 |
Jewellery | Rs 12,771 crore | 15.3 |
Eyecare | Rs 202 crore | 6.9 |
The company's jewellery segment registered year-on-year growth of 15.3 per cent in revenue to Rs 12,771 crore for the September quarter.
The group sold gold ingots aggregating to Rs 996 crore to various customer dealing in bullion during the quarter, as against ingots worth Rs 1,816 crore a year ago, according to Titan. This was disclosed as other operating revenues, the company said.
Titan Q2 FY25 Results | Management commentary
"Jewellery clocked healthy double-digit growth for the quarter. Our portfolio approach in this business of straddling diverse customer needs through the brands of Tanishq, Mia, Zoya and Caratlane is working well. The buyer growth metrics were fairly strong and in good double-digits across gold and studded product categories," said CK Venkataraman, Managing Director, Titan.
"The quarter also witnessed analog watches growing 25+ per cent over last year with a commensurate uptick in volumes. The Titan brand continues to be Indian consumers' proud choice in this segment," said Venkataraman.
Acknowledging that Titan's second-quarter profitability was "quite depressed" on account of customs duty-related losses and the need to invest in various businesses' growth, the MD exuded confidence about the competitiveness of each of its businesses. "We remain optimistic about our performance for the rest of the financial year," he said.
ALSO READ: Voltas Q2 profit surges 265% to Rs 134 crore; revenue up 14.3% at Rs 2,619 crore
Titan Share Price
Earlier on Tuesday, Titan shares gained by Rs 7.4, or 0.2 per cent, to end at Rs 3,233.1 apiece on BSE amid a volatile session on Dalal Street.
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