Titan Co shares dip 2% on poor Q1 show

Shares of Tata group firm Titan Co Ltd lost over 2 per cent today after the company reported a 16.34 per cent decline in profit to Rs 126.69 crore for the first quarter ended June 30.
The stock slumped 2.10 per cent to end the day at Rs 414.40 on BSE.
At NSE, shares of the company settled at Rs 414.75, down 2.05 per cent.
On volume front, 4.80 lakh shares changed hands on BSE and over 34 lakh shares were traded on NSE.
The company today reported a 16.34 per cent decline in profit after tax (PAT) at Rs 126.69 crore for the first quarter ended June 30, on account of VRS cost.

It had posted a PAT of Rs 151.45 crore in April-June period of the last fiscal, Titan Co said in a BSE filing.

Net sales during the quarter under review stood at Rs 2,782.5 crore as against Rs 2,586.76 crore in the year-ago period, up 7.56 per cent.
Jewellery division had a revenue of Rs 2,138.32 crore as against Rs 2,072.91 crore in the year-ago quarter. Watches vertical posted revenue of Rs 491.72 crore during the period as compared with Rs 485.17 crore.
Eyewear division clocked revenue of Rs 109.87 crore as against Rs 106.93 crore in the same period, the company said.