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Titan Company's Q4FY16 standalone net profit declines 14.4% yoy to Rs.184.11 crore : Estimates Mixed

The company’s standalone revenue stood at Rs. 2,456.30 crore, down 1.6% yoy and 28.31% qoq.

May 06, 2016 5:00 IST | India Infoline News Service
Titan Company
Titan, World's fifth largest watch manufacturer, reported standalone net profit of Rs.184.11 crore for the quarter ended March 31, 2016, registering decline of 14.4% yoy and 18.28% qoq. The company’s standalone revenue stood at Rs. 2,456.30 crore, down 1.6% yoy and 28.31% qoq.

Its standalone core operating profit of Rs. 210.09 crore for the quarter, declined by 22.22% yoy and 32.21% qoq. Operating profit margin for the current quarter at 8.55% contracted by 227 bps yoy and 50 bps qoq.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 705.85 crore, declining by 14.24% yoy. Its standalone revenue for the period stood at Rs. 11,264.53 crore, registering decline of 5.37% yoy.

Titan Company Ltd's core operating profit stood at Rs. 945.49 crore, recording decline of 18.02% yoy. Operating margin for the current period at 8.42% contracted by 127 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Standalone Revenue 2456.30 2744.5 [10.50]
Standalone Net Profit 184.11 155.05 18.74

Standalone EPS for the quarter stood at Rs. 2.07.

Bloomberg estimated the company’s standalone net profit at Rs. 179.83 crore.

Stock Commentary:

Titan Company Ltd ended at Rs. 364.1, up by 4.7 points or 1.31% from its previous closing of Rs. 359.4 on the BSE.

The scrip opened at Rs. 364 and touched a high and low of Rs. 368 and Rs. 354 respectively. A total of 1743319(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 31907.53 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 392 on 26-Nov-2015 and a 52 week low of Rs. 303 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 369.2 and Rs. 353.3 respectively.

The promoters holding in the company stood at 53.05 % while Institutions and Non-Institutions held 25.32 % and 21.63 % respectively.

The stock traded below its 100 DMA.


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