Titan Company Limited Reports Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 29, 2014 at 01:09 pm
Share
Titan Company Limited reported unaudited standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company's net sales were INR 26,504.6 million compared with INR 29,828.9 million a year ago. Profit from operations before other income and finance costs was INR 2,295.5 million compared with INR 2,685.6 million a year ago. Profit before taxes was INR 2,282.3 million compared with INR 2,790.7 million a year ago. Profit after taxes was INR 1,655.7 million or INR 1.86 per basic and diluted share compared with INR 2,039.2 million or INR 2.30 per basic and diluted share a year ago. Titan Company reported a decline of 11.1% in income in third quarter over same period last year.
For the nine months, the company's net sales were INR 80,282.7 million compared with INR 74,159.2 million a year ago, registering a growth of 8.3% over last year. Profit from operations before other income and finance costs was INR 7,067.0 million compared with INR 7,045.8 million a year ago. Profit before taxes was INR 7,370.2 million compared with INR 7,394.1 million a year ago. Profit after taxes was INR 5,347.0 million or INR 6.02 per basic and diluted share compared with INR 5,402.1 million or INR 6.08 per basic and diluted share a year ago.
Titan Company Limited specializes in the design, manufacture and marketing of watches, jewellery, eyewear and fashion accessories. Net sales break down by product family as follows:
- jewellery items (88.5%): gold jewellery decorated with diamonds and precious stones, pure gold and platinum jewellery (Tanishq, Zoya, Mia, Carat Lane and Gold Plus brands);
- watches (7.3%): sold under own brands (Titan, Fastrack, Sonata, Favre Leuba, Xylys and Nebula), and under license brands (Tommy Hilfiger, Police, FCUK, Annie Klein, Kenneth Cole and Esprit);
- eyewear (1.7%): eyeglasses, sunglasses, frames, lenses and contact lenses (Titan Eye Plus, Titan, Fastrack and Glares brands).
The balance of net sales (2.5%) concerns the distribution activities of perfumes (Skinn by Titan brand), saris (Taneira Sarees brand) and fashion accessories, as well as the manufacture of precision engineering products and industrial machinery.
Products are marketed through a network of 1,909 exclusive stores located in India, over 7,000 multi-brand outlets and via the Internet.
At the end of March 2021, the group had 11 production sites in India.
India accounts for 99.5% of net sales.
TITAN COMPANY LIMITED 
