Titan Company slips 4%, hits 6-month low on subdued Q1 earnings

Shares of Titan Company hit a six-month low of Rs 999, down 4 per cent intra-day on the BSE on Wednesday after it reported 6 per cent year-on-year (YoY) growth in standalone net profit at Rs 371 crore in the June quarter (Q1FY20), due to lower-than-expected revenue. The firm had posted a profit of Rs 349 crore in the year-ago quarter.

The stock was trading at its lowest level since February 1, 2019, when it hit Rs 985 in intra-day trade.

Its revenue grew by 14 per cent YoY led by lower-than-expected growth in jewellery segment, 13.3 per