Titan Company Limited
P&L
Quarterly Consolidated
vs Q2 FY25
Titan Company Limited Reports Q3 FY2024-25 Results: 25% Revenue Growth, Custom Duty Impact on Profitability
04 Feb 2025 · 4 Feb 2025, 10:53 pm
Summary
Titan Company Limited, a leading company in the watch, jewellery, and eye care segments, reported its financial results for the quarter and nine months ended 31st December 2024. The company recorded a quarterly income of 17,723 crores, achieving a growth of 25.5% over Q3FY24. The PBT was flat at 1,396 crores compared to Q3FY24 mainly due to the impact of custom duty reduction on gold. The jewellery segment saw a strong growth of 26% over Q3FY24, with gold jewellery and coins clocking a 27% growth. The watches & wearables segment recorded a 15% growth, while the eye care segment grew by 16%. The emerging businesses, however, recorded a loss of 32 crores for the quarter.
Key Highlights
- 1
Titan (consolidated) recorded a quarterly income of 17,723 crores, achieving a growth of 25.5% over Q3FY24
- 2
The PBT was flat at 1,396 crores compared to Q3FY24 mainly due to the impact of custom duty reduction on gold
- 3
The jewellery segment saw a strong growth of 26% over Q3FY24, with gold jewellery and coins clocking a 27% growth
- 4
The watches & wearables segment recorded a 15% growth, while the eye care segment grew by 16%
- 5
The emerging businesses, however, recorded a loss of 32 crores for the quarter
Management Comments
Mr. C K Venkataraman
Managing Director of the Company
The festive quarter gone by firmly established the FY25 growth trajectory after a muted Q1 and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, both as adornment jewellery and as a store of value continued to remain fairly strong. Our analog watches clocked a healthy retail growth of 20%, reinforcing Titan's customer value proposition in the eyes of the consumer. EyeCare's retail growth returning to double-digits was encouraging. The custom duty related losses on the inventory (held at the time of the duty change) have been fully realized in this quarter and hence the profitability is lower to that extent. We are committed to investing in the growths of all our businesses and specifically the emerging ones to help them scale faster. We remain optimistic on our performance and hope to end the fiscal year with a good growth over FY24.
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