Titan Q4 net up 11.6 per cent at Rs 206.44 crore

May 06 2014, 17:13 IST
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Titan had reported net profit of Rs 184.97 crore in the corresponding quarter a year ago.  Reuters Titan had reported net profit of Rs 184.97 crore in the corresponding quarter a year ago. Reuters
SummaryTitan had reported net profit of Rs 184.97 crore in the corresponding quarter a year ago.

Titan Company Ltd today reported 11.6 per cent increase in net profit at Rs 206.44 crore for the fourth quarter ended March 31, 2014.

The company had reported net profit of Rs 184.97 crore in the corresponding quarter a year ago.

Titan's net sales were at Rs 2,786.81 crore during Q4, 2013-14, an increase of 7.46 per cent as against Rs 2,593.13 crore in the year-ago period.

Commenting on the results, Titan Industries Managing Director Bhaskar Bhat said: "The year 2013-14 was a challenging year given the economic environment that was subdued. The year also witnessed other adverse factors like the regulatory changes that impacted our jewellery business."

"The company will however continue to invest in strategic initiatives taking into account our long term and sustainable growth plans," he added.

Overall expenses of the company were at Rs 2,527.23 crore during the quarter under review, an increase of 7 per cent as compared with Rs 2,361.68 crore in the year-ago period.

Shares of Titan Company closed at Rs 271.05 apiece at the end of the day's trade, up 3.47 per cent from their previous close on the BSE.

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