Last Update: February 02, 2023, 16:36 IST
Titan Company’s total expenses rose to Rs 10,454 crore in Q3FY23 from Rs 8,750 crore a year ago.
Titan Company’s consolidated total income stood at Rs 11,698 crore during the December 2022 quarter, as against Rs 10,094 crore in the year-ago period.
Tata group firm Titan Company Ltd on Thursday reported a 9.78 per cent decline in consolidated net profit at Rs 913 crore for the third quarter ended December 2022, hit by higher expenses. Titan Company Ltd said in a regulatory filing that the company had posted a consolidated net profit of Rs 1,012 crore in the corresponding quarter of the previous fiscal.
Its consolidated total income during the quarter under review stood at Rs 11,698 crore, as against Rs 10,094 crore in the year-ago period. The company said total expenses rose to Rs 10,454 crore from Rs 8,750 crore in the third quarter of the previous fiscal.
During Q3, the jewelery segment grew by 11 per cent to Rs 9,518 crore as compared to Q3 FY22. India Healthy consumer demand during the festive season has led to a 9 per cent growth in business. Watches and wearables continued a strong growth trajectory, registering total income of Rs 811 crore, up 15 per cent from the year-ago period. The eyecare category posted a growth of 12 per cent, generating revenue of Rs 174 crore.
CK Venkataraman, Managing Director, Titan Company, said festive consumer demand remained strong in the quarter.
“We continue to grow market share and are actively investing in capabilities across all of our business segments. Our international effort is shaping up well and we are very satisfied with consumer response in selected international markets “
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)