Titan Q1: Profit increased by 53% and income by 25%, results better than expected

News Topical, Digital Desk : Titan Company, a company offering jewellery and watches, has presented its first quarter results. The company has performed better than market estimates. The company's profit, income, EBITDA and margin have all been better than the estimates of CNBC TV18's poll. All of these have registered a sharp increase on a year-on-year basis. According to the information given by the company, profit has increased by 53 percent and income by 25 percent compared to last year. EBITDA has increased by 47 percent during this period. Margins have also shown improvement. The results have come after the market closed. Today the stock closed at 3415 with a slight decline.

How were the quarterly results

The company's net profit grew 52.6% year-on-year to Rs 1,091 crore as against Rs 715 crore in the same quarter last year. The company's total income grew 24.6% to Rs 16,523 crore as against Rs 13,266 crore last year. EBITDA grew by 46.7% to Rs 1,830 crore from Rs 1,247 crore last year. Margins also improved and grew from 9.4% to 11.1%. Results were better than expectations Titan's results proved to be better than market expectations. According to a CNBC-TV18 poll, the company's net profit was estimated to be Rs 930 crore while it actually stood at Rs 1,091 crore. The company also performed better than expected in terms of income. The market had estimated an income of Rs 14,045 crore, while the company recorded an income of Rs 16,523 crore. The estimate for EBITDA was Rs 1,490 crore, but the actual figure was Rs 1,830 crore. The margin also stood at 11.1% against the estimated 10.6%. 

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