Tata Group’s company Titan’s profit has increased by 136 percent year-on-year in the December quarter. Titan’s profit during this period has been Rs 987 crore. The company has performed strongly in every vertical in the December quarter.
Titan Q3 FY22 Results: Rakesh Jhunjhunwala’s favorite company Titan has had a better December quarter. The profit of this Tata Group company has increased by 136 percent year-on-year in the December quarter. Titan’s profit during this period has been Rs 987 crore. Whereas in the same quarter a year ago, the company had a profit of Rs 419 crore. The company has performed strongly in every vertical in the December quarter. From jewelery business to watch business, growth has been seen. The company’s income has also increased by more than 30 percent during this period.
Titan’s jewelery business grew 37 percent on a yearly basis and stood at Rs 8563 crore. At the same time, there was a growth of 29 percent in the watch and wearables business and sales stood at Rs 708 crore. Eyewear grew 26 per cent.
Increase in Revenue, EBITDA
The revenue coming from operations of consumer lifestyle company Titan grew by about 31 percent to Rs 9515 crore in the December quarter. Whereas in the same quarter a year ago, the company’s revenue was Rs 7287 crore. Titan’s EBITDA stood at Rs 1398 crore, up 62.9 per cent in the third quarter on a year-on-year basis. It was Rs 858 crore in the same quarter a year ago.
EBITDA margin also increased
The company’s EBITDA margin has increased from 11.8 per cent year-on-year to 14.7 per cent in the December quarter. The company says that the December quarter has been the best quarter for the company in terms of growth. However, there has been some impact due to the third wave of COVID. The company expects that this financial overall will be better.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
,