Financials:
- Revenue: Titan's revenue grew by 11% YoY, reaching ₹13,386 crores in Q1FY25, compared to ₹12,011 crores in Q1FY24.
- Expenses: Total expenses increased by 13% YoY, amounting to ₹12,413 crores in Q1FY25, up from ₹11,009 crores in Q1FY24.
- Net Profit: Net profit declined by 5% YoY, standing at ₹715 crores in Q1FY25 versus ₹756 crores in Q1FY24.
- Earnings Per Share (EPS): The EPS for Q1FY25 was ₹8.1, a decrease from ₹8.5 in Q1FY24.
- EBITDA: Rose by 9.8% to ₹1,211 crores, up from ₹1,103 crores year-on-year.
- EBITDA Margin: Improved by 20 basis points to 10.1%, compared to 9.9% in Q1FY24.
Management Commentary:
Mr C K Venkataraman, Managing Director of Titan, said,
- “In the recently presented Union Budget, the customs duty on gold imports in the country has been reduced from 15% to 6%. This development has long-term positive implications for the Jewellery industry.
- While this change is likely to entail a short-term impact in the form of value loss on duty-paid gold inventory (expected to be expensed over the next two quarters), we remain optimistic on the longer-term benefits as it makes the market equitable for large businesses like ours.
- Our first quarter performance reflects mixed consumer trends in lifestyle categories. While the inclement weather conditions during the summers, general elections and lower wedding days impacted retail walk-ins, the growth metrics in Watches & Wearables and EyeCare were quite healthy. Notwithstanding some of these near-term variations, Titan is steadfastly pursuing market share gains across all business categories and is well-equipped to provide a differentiated retail experience to our valued customers. We remain optimistic about our performance for rest of the financial year. “
Data Source: BSE, Company announcements
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