InvestorQ : How do you see Titan after the Mar-20 results?
diksha shah made post

How do you see Titan after the Mar-20 results?

Answer
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4 months ago


While the top line of Titan did suffer, the profits saw a better than expected performance in the Mar-20 quarter. In fact, Titan beat street expectations and reported 21% growth in net profits at Rs.516 crore for the Mar-20 quarter. But COVID-19 had its impact in the month of March after malls were shut down. Total revenues fell 5.5% to Rs.4469 crore for the Mar-20 quarter. The top management of Titan has confirmed that performance of Titan was exceedingly strong in January and February but got impacted negatively by the COVID-19 lockdown. Indian jewellery market has also been sensitive to gold prices and in this quarter the combination of high gold prices and the forced lockdown led to tapering of jewellery demand. Watches continue drive sales followed closely by jewellery retail. But the outlook appears to be more positive with the opening up of retail malls likely to result in a lot of pent up demand for jewellery showing in the next few quarters.