Titan rises over 2% as March quarter results meet Street estimates

Titan's net profit declined 1.5 per cent on a year-on-year (YoY) basis to Rs 343 crore as the Covid-19 pandemic adversely impacted operations during March

Shares of Titan Company rose as much as 2.7 per cent to Rs 1,047 on the BSE on Tuesday after the watch-to-jewellery maker posted largely in-line quarterly financial numbers although disruptions related to Covid-19 adversely impacted its top line and profit during this period.

In the quarter ended March 31, Titan's net profit declined 1.5 per cent on a year-on-year (YoY) basis to Rs 343 crore as the pandemic adversely impacted operations during March. Consolidated revenues of the firm declined around 4 per cent at Rs 4,753.2 crore YoY. According to the Bengaluru-headquartered firm, significant impact came in the second half