Titan dips 4%, trades lower for third straight day post Q4 results

Shares of Titan Company dipped 4.5 per cent to Rs 1,425 on the BSE in intra-day trade, falling 6 per cent in the past three trading days after the company announced its March quarter earnings on Thursday, April 29. The stock of the Tata Group Company was the top loser among the S&P BSE SENSEX and Nifty50 indices, which were down less than 1 per cent.

In Q4FY21, Titan Company continued to witness strong business momentum in the quarter and recorded revenue of Rs 7,110 crores (excl. bullion sale), growth of 61 per cent year on year (YOY), led by strong growth of 70 per cent in Jewellery division. The base quarter, Q4FY20, was weak due to lockdowns in second half of March. Profit after tax grew 48 per cent at Rs 357 crores over the previous year quarter.

However, on account of positive operating leverage and tight leash on operating overheads, Earnings before interest, taxes, depreciation, and amortization (EBITDA) margins contracted 210 basis points (BPs) YOY to 10.9 per cent.

Source: Business Standard