Titan Q3 up 19%; Consumer demand dips
Titan Q3 up 19%; Consumer demand dips
Mumbai: Titan Industries, the world’s fifth largest watch maker by volume, posted a 19% increase in net profit to ₹ 164 crore for the quarter ended 31 December.
“The Indian economy continues to face headwinds and signs of a dip in consumer demand surfaced during the quarter," managing director Bhaskar Bhat said in a comment on the resuits.
Total expenditure for the quarter shot up 26.6% on the back of increased advertising expenses and raw material costs.
Shares of the company closed 0.65% lower at ₹ 199.80 even as the Sensex provisionally closed about 2% higher at 17,199.60.
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