Tata group-owned Titan Firm reported a 48 per cent progress in internet revenue to Rs 529 crore on a standalone foundation, within the January-March quarter of the monetary yr 2020-21, in comparison with Rs 357 crore within the corresponding interval final yr. Based on a regulatory submitting by the corporate to the BSE on Thursday, April 29, Titan Firm’s income from operations stood at Rs 7,135 crore within the March quarter, marking a 61 per cent progress, in comparison with Rs 4,429 crore in the identical interval final yr. (Additionally Learn: Titan Falls Over 2% After Internet Revenue Drops 11% In December Quarter )
Based on the assertion, the corporate’s board really helpful a dividend of Rs Four per fairness share of rupee one every of the corporate, that will probably be dispatched or paid topic to the approval of the shareholders of the agency.
Titan acknowledged that the corporate reported a robust income progress each within the jewelry and the eyewear segments, whereas the watches division recovered within the fourth quarter of the monetary yr 2020-21. The entire revenue stood at Rs 7,169 crore within the March quarter, in comparison with Rs 4,469 crore within the corresponding quarter final yr.
The jewelry phase registered an revenue of Rs. 6,397 crore in the March quarter, excluding gold bullion gross sales, in comparison with Rs. 3,754 crore within the year-ago interval. The watches and wearables enterprise recovered within the fourth quarter to register an revenue of Rs. 555 crore, in comparison with Rs. 557 crores in the identical interval final yr.
On Thursday, shares of Titan Firm settled 0.13 per cent decrease at Rs 1,506.30 apiece on the BSE. Titan opened on the BSE at Rs 1,519.80, registering an intra day excessive of Rs 1,527.35 and an intra day low of Rs 1,497.10 by the buying and selling session. On the NSE, Titan Firm settled 0.30 per cent decrease at Rs 1,504.35 apiece.