Titan Company jumps after good Q3 results

Titan Company rose 5.22% to Rs 357 at 14:04 IST on BSE after net profit rose 18.12% to Rs 225.29 crore on 17.24% increase in total income to Rs 3439.88 crore in Q3 December 2015 over Q3 December 2014.

The result was announced during trading hours today, 29 January 2016.

Meanwhile, the BSE Sensex was up 321.97 points, or 1.32%, to 24,791.54.

On BSE, so far 1.10 lakh shares were traded in the counter, compared with an average volume of 1.11 lakh shares in the past one quarter. The stock hit a high of Rs 358.20 and a low of Rs 346 so far during the day. The stock hit a record high of Rs 448 on 3 February 2015. The stock hit a 52-week low of Rs 303 on 1 October 2015. The stock had outperformed the market over the past one month till 28 January 2016, falling 3.32% compared with 6.01% decline in the Sensex. The scrip had also outperformed the market in past one quarter, sliding 3.08% as against Sensex's 9.51% fall.

The large-cap company has an equity capital of Rs 88.78 crore. Face value per share is Rs 1.

Titan Company said total income rose due to pick up in retail sales in the festive season. The income from watches rose 8.2% to Rs 478.57 crore in Q3 December 2015 over Q3 December 2014. Jewellery business recorded a growth of 20.1% in Q3 December 2015 over Q3 December 2014. Tanishq reported a 20.10% rise in income to Rs 2819.27 crore in Q3 December 2015 over Q3 December 2014. The eyewear business reported a growth of 2.4% in income at Rs.80.03 crore in Q3 December 2015 over Q3 December 2014. Other businesses of the company, comprising a B2B business, Precision Engineering and the accessories business registered a decline of 8.3% at Rs 51.13 crore in Q3 December 2015 over Q3 December 2014.

The Titan Company (TCL) retail chain is 1266 stores strong, as on 31 December 2015 with the retail area crossing 1.6 million square feet, nationally for all its brands. A total of 122 stores were added by TCL brands in the nine month period till December 2015.

Titan Company is into eyewear, watches and jewellery making business.

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