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Our businesses > Tata companies > Titan Industries > Media releases |
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January 31, 2002
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Titan Industries Limited
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Unaudited
financial results (provisional) for the
period ended 31 December 2001
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(Rupees
in crore)
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Particulars
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Quarter
ended
31-12-2001
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Quarter
ended
31-12-2000
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Nine
months
ended
31-12-2001
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Nine
months
ended
31-12-2000
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Year
ended
31-3-2001
(Audited)
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Net
sales / Income from operations
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207.44
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160.26
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448.02
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447.53
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696.90
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Other
income
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0.29
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0.33
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1.69
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0.93
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1.97
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Total
income
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207.72
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160.59
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449.71
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448.46
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698.87
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Expenditure
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Decrease
/ (increase) in stock in trade
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3.72
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(1.79)
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(21.71)
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(22.09)
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28.27
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Consumption
of raw materials
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114.20
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83.62
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256.27
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245.17
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341.19
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Excise
duty
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14.93
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12.89
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40.24
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39.67
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58.13
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Staff
cost
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18.44
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16.71
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53.48
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51.85
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74.07
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Advertising
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13.44
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13.41
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26.94
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31.09
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40.10
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Other
expenditure
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16.06
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15.68
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41.85
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46.22
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72.43
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Total
expenditure
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180.78
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140.52
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397.06
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391.91
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614.19
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Interest
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11.37
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12.67
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36.14
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36.09
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47.84
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Depreciation
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5.57
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4.81
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16.40
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15.79
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20.93
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Profit
/ (Loss) before extra-ordinary
item & taxes
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10.00
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2.59
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0.11
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4.67
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15.91
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Extra-ordinary
item - profit from sale of shares
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-
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-
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-
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9.66
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9.66
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Profit
/ (Loss) before taxes
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10.00
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2.59
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0.11
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14.33
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25.57
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Taxes
- Income tax
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0.04
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0.22
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0.04
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1.18
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2.09
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Deferred tax
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2.97
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-
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(0.45)
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-
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-
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Profit
/ (Loss) after taxes
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6.99
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2.37
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0.52
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13.15
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23.48
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Paid-up
equity share capital (face value:
Rs.10 per share)
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42.28
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42.28
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42.28
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42.28
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42.28
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Paid-up
preference share capital
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40.00
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34.00
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40.00
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34.00
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40.00
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Reserves
excluding revaluation reserves
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-
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-
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-
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-
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125.09
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Basic
and diluted earnings per equity
share (Rupees)
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1.44
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0.28
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(0.54)
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2.23
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4.41
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Aggregate
of Non-Promoter shareholding
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-
Number of shares
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19,078,141
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18,996,643
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19,078,141
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18,996,643
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18,996,643
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Percentage of shareholding
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45.1%
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44.9%
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45.1%
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44.9%
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44.9%
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Segment
Results
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Particulars
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Quarter
ended
31-12-2001
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Nine
months ended
31-12-2001
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Net
sales / Income from segments
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Watches
& Clocks
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122.20
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275.88
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Jewellery
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85.24
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172.14
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Total
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207.44
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448.02
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Profit
/ (Loss) from segments before
interest and taxes
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Watches
& Clocks
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17.13
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28.00
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Jewellery
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4.36
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8.35
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Total
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21.49
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36.35
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Less
: Interest attributable to segments
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10.64
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33.84
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Profit
/ (Loss) from segments before
taxes
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10.85
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2.51
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Capital
Employed in segments
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Watches
& Clocks
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485.07
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485.07
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Jewellery
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147.59
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147.59
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Total
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632.66
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632.66
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Notes:
- The Directors are glad to report that
both the watch and the jewellery divisions
have made a profit in the quarter ended
31st December 2001
- This year the festive season commenced
well into the third quarter, almost one
month later than in the previous year.
Consequently sales and profits in the
current year are skewed more than normally
so to the second half.
- Consequent to the new Accounting Standard
AS 22 on 'Accounting for taxes on income'
becoming mandatory effective 1st April
2001, the Company has accounted the deferred
tax for the quarter and the nine months
ended 31st December 2001 and the same
have been disclosed accordingly. The cumulative
deferred tax liability of Rs.45.63 crores
has been adjusted against the reserves
as on 1st April 2001.
- The figures of the previous period
have been regrouped/recast, where necessary.
- The above statement of financial results
was taken on record by the Board of Directors
at their meeting held on 31st January
2002.
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Bangalore
Dated: 31 January 2002 |
For
& on behalf of the Board of Directors
Xerxes Desai
Vice Chairman & Managing Director
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