Titan’s total income from operations for the quarter was Rs 7,181 crore, up by 46% from Rs 4,915 crore in the same quarter of the previous year. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 1,107 crore, up by 67% from Rs 663 crore reported in the same period last year.
The company’s jewelry segment recorded strong growth during the quarter, with revenues growing by 60% to Rs 6,081 crore. The watches segment also witnessed a recovery, with revenues growing by 7% to Rs 572 crore.
In a statement, Titan’s Managing Director, C K Venkataraman, said, We are pleased to report a strong set of financial results for the quarter, driven by robust growth in our jewelry business and a recovery in our watches business. We have also made significant progress in our digital transformation journey, which has helped us to better connect with our customers.
Titan has declared a final dividend of Rs 10 per share for the financial year ended March 31, 2022. The company’s Board of Directors also approved a proposal to raise up to Rs 1,000 crore through the issuance of non-convertible debentures.
Titan is one of India’s largest watch and jewelry manufacturers, with a strong presence in both domestic and international markets. The company has been investing heavily in its digital capabilities to improve customer engagement and enhance its online sales channels.The company’s shares were trading at Rs 1,900.
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Titan Q4 net profit was up 50% to Rs 734 crore, and a dividend of Rs 10 declared
By tirupatinews
