Titan (TTN) Stocks Dip 7% Post-Q4 Results: A Buy, Sell, or Hold Investment Opportunity?
- Titan Company’s shares fell over 7 per cent in morning trade on BSE on Monday, May 6, following weaker-than-expected Q4 results.
- The company’s Q4 results showed a 5 per cent YoY rise in consolidated net profit of ₹771 crore and a 22 per cent YoY rise in total income to ₹11,472 crore.
- Despite the drop, top brokerage firms have retained their previous recommendation on Titan stock, but some have trimmed their estimates due to gold inflation and the stock’s fair valuation.
Shares of Titan Company fall over 7 per cent following weaker-than-expected Q4 results, but top brokerage firms retain their recommendations on the stock.
Titan Company Q4 Results
After market hours on Friday, May 3, Titan reported a 5 per cent year-on-year (YoY) rise in consolidated net profit of ₹771 crore for the quarter that ended on March 31, 2024. Total income for the quarter rose 22 per cent YoY to ₹11,472 crore. The company’s EBIT for the quarter grew by 10 per cent YoY to nearly ₹1,192 crore. The Jewellery segment’s total quarterly income grew 19 per cent YoY to nearly ₹8,998 crore, while ‘Watches & Wearables’ total income for the quarter stood at ₹940 crore, up 8 per cent YoY.
Titan Share Price Movement
By jumping nearly 29 per cent, Titan shares have outperformed the equity benchmark Sensex over the last year, which has gained about 21 per cent in the... Read the full article for FREE at COINOTAG!
