India’s Titan slumps after earnings

By: |
October 31, 2014 10:54 AM

Watches and jewellery maker Titan Company Ltd slumps as much as 6.7 percent....

Watches and jewellery maker Titan Company Ltd slumps as much as 6.7 percent. (Reuters)Watches and jewellery maker Titan Company Ltd slumps as much as 6.7 percent. (Reuters)

Watches and jewellery maker Titan Company Ltd slumps as much as 6.7 percent.  Heads towards biggest single-day fall since Sept. 2013. July-Sept. earnings lagged some estimates.  Profit rose 28.6 percent to 2.4 billion rupees ($39.12 million) and sales rose by 55.7 percent to 35.65 billion rupees.  Strong sales growth driven by one-off jewellery sales led by the foreclosure of advance purchase schemes, says analysts.  Shares down 4.5 percent at 0406 GMT.

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