Titan's Q1 net triples to 121 million

Monday, 30 July 2007, 07:00 Hrs
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Bangalore: Titan Industries Ltd of the Tata Group clocked record performance in the first quarter (April-June) of the current fiscal (2007-08) with net profit tripling to 121 million from 40.21 million in the same period a year ago (2006-07).

According to the company's financial statement released here Friday for the first quarter, total income from operations increased to 6.67 billion from 4.5 billion in the same quarter of the last fiscal, registering year-on-year (YoY) growth of 48 percent.

The profit before tax shot up five times to 250 million from 50 million in the same period last year. Capital employed at 5.8 billion in the first quarter of this fiscal was also lower from the previous quarter of the last fiscal by 121 million.

Watch segment grew by 15 percent, with income from sales increasing to 1.7 billion from 1.5 billion in the same period a year ago. The jewellery segment grew significantly to 4.7 billion from 2.9 billion.

The company's other products segment, including eyewear, precision engineering, machine building and clocks, grew by over 71 percent to 230 million from 140 million last year.
Source: IANS
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