Titan Company shares jump 9.5 pc after smart Q1 earnings

The scrip of Titan Company Ltd today zoomed 9.5 per cent after it reported a 96.84 per cent increase in consolidated net profit for the first quarter ended June 30.
Shares of the company jumped 9.49 per cent to end at Rs 610.45 on BSE. During the day, it soared 10.51 per cent to Rs 616.15.
On NSE, the stock went up sharply by 9.52 per cent to close at Rs 611.20.
The company's market valuation also rose by Rs 4,696.91 crore to Rs 54,194.91 crore.
Titan Company Ltd yesterday reported a 96.84 per cent increase in consolidated net profit to Rs 237.97 crore for the first quarter ended June 30 led by robust sales in its jewellery division.

The company had reported a net profit of Rs 120.89 crore in the same quarter a year-ago, Titan said in a BSE filing.
Total income stood at Rs 4,049.57 crore, up 42.56 per cent, during the period under review as against Rs 2,840.56 crore in the corresponding period last fiscal.