Tata Group firm Titan Company Ltd today reported 7.4 per cent increase in net profit to Rs 200.71 crore for the fourth quarter ended March 31. The company had reported a net profit of Rs 186.88 crore in the same quarter of 2015-16. Titan’s total income grew by 43.89 per cent to Rs 3,486.99 crore during the quarter under review, as against Rs 2,423.30 crore in the year-ago period. Titan Managing Director Bhaskar Bhat said despite the backdrop of a changing environment and regulatory moves like demonetisation, the year 2016-17 was a satisfying one for the company .
“The strength of company’s brands, the reach of its retail and distribution network and the effectiveness of new product introductions and marketing campaigns were tested in a difficult environment,” he added. For 2016-17, Titan reported a net profit of Rs 761.86 crore compared with Rs 697.57 crore in the previous year. Its total income in the year ended March 31, 2017, stood at Rs 12,781.66 crore as against Rs 11,178.54 crore in the previous fiscal.
In a separate filing, Titan Company said its board of directors have recommended a dividend of Rs 2.60 per equity share. The company’s stock closed 1.39 per cent lower at Rs 494.50 apiece on BSE.