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Titan posts pre-tax loss of Rs 335 cr in Q1 as lockdown washes out sales

It had reported a profit-before-tax of Rs 523 crore in the corresponding quarter of previous fiscal

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The jewellery division recorded an income of Rs 1,824 crore for the quarter as compared to Rs. 4,164 crore last year, a decline of 56 per cent.

Samreen Ahmad Bengaluru
With major part of the quarter being a complete washout because of the lockdown and disruptions caused by the Covid-19 pandemic, Titan on Monday posted a pre-tax loss of Rs 335 crore for Q1 of FY21. It had reported a profit before tax (PBT) of Rs 523 crore in the corresponding quarter of the previous financial year. 

The Bengaluru-headquartered firm posted a consolidated net loss of Rs 270 crore during the quarter. It had posted a net profit of Rs 371 crore for the corresponding quarter in the previous financial year. The firm posted a decline of 62 per cent in