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Tata group consumer lifestyle firm Titan -- which manufactures a range of products including watches, jewellery and eyewear -- on Thursday staged a strong financial performance for the quarter ended June 30, with a better-than-expected net profit and a 167-basis-point expansion in its margin.
Titan -- whose popular brands include Fastrack, Octane, Helios, Tanishq and Zoya -- registered a 52.6 per cent year-on-year jump in net profit to Rs 1,091 crore for the April-June period. Its revenue grew 34.7 per cent to Rs 16,523 crore, according to a regulatory filing.
According to Zee Business research, Titan's June-quarter net profit was estimated at Rs 944 crore and revenue at Rs 14,205 crore.
The Tata group firm's operating profit expanded to Rs 1,830 crore for the June quarter, versus Rs 1,247 crore a year ago.
Its margin -- a key measure of profitability -- improved from 9.4 per cent to 11.07 per cent.
Earlier in the day, Titan shares ended nearly flat at Rs 3,415 apiece amid a volatile session on Dalal Street.
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