Tata Group firm Titan on Tuesday, February 4, reported a 4.9% year-on-year (YoY) decline in its standalone internet revenue for the third quarter of fiscal 2024-25 (Q3 FY25), ended December, to ₹990 crore. The determine stood at ₹1,040 crore in the identical interval final yr.
Nonetheless, on a sequential foundation, the revenue surged 40.42% from ₹705 crore posted within the previous quarter of FY 25.
The jewelry maker reported a 24% YoY bounce in its income from the sale of merchandise to ₹16,053 crore in Q3 FY25. In the meantime, on a sequential foundation, the determine witnessed a 31% enchancment.
The earnings earlier than curiosity and tax (EBIT) grew 1.9% YoY to ₹1,506 crore. Nonetheless, the EBIT margin declined by 203 foundation factors to 9.3% in Q3 from 11.3% within the year-ago interval.
Section-wise Efficiency
The corporate’s flagship jewelry enterprise recorded a 26% development in revenue to ₹14,697 crore in Q3 FY25, with the India enterprise rising 25%, because of the festive season. “Secondary gross sales recording a formidable 28% development, buoyed by larger gold costs, wedding-related purchases rising by 29%, and wholesome same-store gross sales development of twenty-two%, respectively, in comparison with Q3FY24,” Titan stated in a press launch right this moment.
Gold jewelry and cash clocked a robust 27% YoY development and continued to be the popular alternative of consumers. Through the quarter, Tanishq opened 11 new shops (internet), whereas Mia added 13 shops within the home market.
Within the watches & wearables phase, the full revenue climbed 15% YoY to ₹1,128 crore. In the meantime, the home enterprise recorded a 14% development in the identical interval final yr. “The analogue phase recorded a sturdy 20% development over Q3FY24, primarily led by the Titan model, which clocked 18% development in the identical interval. The wearables phase declined by 20%, with each Common Promoting Costs and volumes declining by 8% and seven%, respectively, in comparison with Q3FY24. 23 shops (internet) have been added in Q3FY25, comprising 12 shops in Titan World, 10 in Helios, and 1 in Fastrack, respectively,” Titan reported.
Within the eyecare phase, whole revenue rose 16% YoY to ₹914 crore. Inside product classes, sun shades gross sales outpaced others, rising 35%, whereas frames and lenses grew in mid-double digits over their respective Q3FY24 numbers. The division closed 3 new shops (internet) throughout the quarter in Titan Eye+.
The rising companies phase, comprising Indian Costume Put on (‘Taneira’), Fragrances, and Trend Equipment (F&FA), recorded a Whole Revenue of ₹118 crore, rising 5% over Q3FY24.
CK Venkataraman, Managing Director of Titan, said, “The festive quarter passed by firmly established the FY25 development trajectory after a muted Q1 and wholesome Q2. The customized duty-related losses on the stock (held on the time of the responsibility change) have been totally realized on this quarter, and therefore the profitability is decrease to that extent.”
We’re dedicated to investing within the development of all our companies and particularly the rising ones to assist them scale sooner, he stated, including we stay optimistic about our efficiency and hope to finish the fiscal yr with good development over FY24.
Disclaimer: The views and proposals above are these of particular person analysts or broking corporations, not Mint. We advise traders to verify with licensed specialists earlier than making any funding selections.
Catch all of the Enterprise Information , Market Information , Breaking Information Occasions and Newest Information Updates on Dwell Mint. Obtain The Mint Information App to get Day by day Market Updates.
ExtraMuch less
