Titan Company's third quarter reported profit is expected to surge 14.2 percent year-on-year to Rs 189 crore, according to the average of estimates of analysts polled by CNBC-TV18. Adjusted profit may report 6.5 percent during the quarter.
Titan Company 's third quarter reported profit is expected to surge 14.2 percent year-on-year to Rs 189 crore, according to the average of estimates of analysts polled by CNBC-TV18. Adjusted profit may report 6.5 percent during the quarter.
Analysts believe the bottomline may be boosted by lower interest cost while they expect muted topline growth from Titan in Q3.
Total income is seen going up 4.7 percent to Rs 2,802 crore in October-December quarter compared to Rs 2,676 crore in the quarter gone by.
Operating profit may increase 8.7 percent year-on-year to Rs 267 crore and margin may expand 30 basis points to 9.5 percent in the third quarter of current financial year 2014-15.
Jewellery
Closure of deposit schemes, modest festive demand, double-digit decline in gold prices may impact jewellery revenues during the quarter. Golden Harvest Scheme was used to constitute 30 percent of jewellery sales.
Lower gold prices could weigh in on the realisations. Margins in jewellery business could expand by 80-100 basis points, driven largely by mix improvement (higher share of studded jewellery) and a forward premium on international hedging of gold (Which may be partly offset by potential inventory losses owing to a lower domestic gold premium towards the end of the quarter).
Watches
Watches segment is likely to report 15 percent Y-o-Y revenue growth on a low base of last year. Margins in this business may expand on strong cost efficiencies. Only downside to revenues could come from heavy discounts given by the online players seen this festive season quarter.
Key factors to watch out for would be outlook on jewellery demand in a declining gold price scenario, signs of any pick up in demand and management comments on custom duty.
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