Titan plunges 10% on disappointing Q2 nos, cut in H2FY20 revenue guidance

Profit before tax (PBT) stood at Rs 429 crore, down 3.7 per cent year-on-year (YoY) and net profit was up just 1.8 per cent YoY to Rs 320 crore.

Shares of Titan Company slipped 10 per cent to Rs 1,160 on the BSE in the early morning deals on Wednesday, a day after the company reported a disappointing set of numbers for September quarter (Q2FY2) due to higher gold prices and weakness in the overall consumption.

On a standalone basis, Tata Group's jewellery and watch company's operating revenue stood at Rs 4,435 crore and remained almost flat compared to Rs 4,407 crore in the year-ago quarter. Revenue growth during the quarter was lowest in the past 12 quarters. Earlier, in Q2FY17, the company had reported a negative growth