Titan Company disclosed a steep drop in standalone net profit for the quarter ended September 2020. During the quarter, the profit of the company declined 37.81% to Rs 199.00 million from Rs 320.00 million in the same quarter previous year.
Revenues for the quarter declined marginally 1.72% to Rs 4,389.00 million, compared with Rs 4,466.00 million for the prior year period.
Operating margin for the quarter was stable at 0.00 percent when compared to previous year period. Operating profit was unchanged at Rs 0.00 million for the quarter, compared with the previous year period.
Earnings per share for the quarter stood at Rs 2.24, registering 37.95% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Sep - 20 | Sep - 19 | %Change |
| Revenues | 4,389.00 | 4,466.00 | (1.72) |
| Net Profit | 199.00 | 320.00 | (37.81) |
| Diluted EPS | 2.24 | 3.61 | (37.95) |
Shares of the company declined Rs 39.05, or 3.18%, to trade at Rs 1,189.70. The total volume of shares traded was 133,119 at the BSE (1.05 p.m., Thursday).
