Titan
industries improves on last year's record Q2
October 31, 2000
Titan
Industries Limited has achieved a pre-tax profit
of Rs 11.59 crores for the second quarter which
is an almost 6% improvement on the record Q2 profit
of Rs 10.99 crores last year. Sales turnover is
up from Rs 154.03 crores in the previous year to
Rs 173.31 crores, an increase of 12.5%.
Following its successful performance in the first
quarter, the jewellery division made a profit in
the second quarter as well. Turnover recorded an
increase of 55% over the previous year, going up
from Rs 33.12 crores to Rs 51.30 crores. Cumulative
sales of the jewellery division for the half-year,
at Rs 84.76 crores, are 49% over the first half
of the previous year.
The results of the second quarter for the watch
division reflect the increased emphasis on an improved
product-mix. Watch volumes rose by 29% from 1.19
million in Q1 to 1.54 million in Q2 while turnover
rose by 53% from Rs 73.32 crores to Rs 112 crores.
Inclusive of after sales service and other items,
the cumulative income of the watch division at the
half year is about Rs 200 crores, an increase of
5.25% over the same period last year.
For the half-year ended September 30, 2000, corporate
turnover increased by 18.6% from Rs 250.92 crores
last year to Rs 297.52 crores and profit after tax
(inclusive of surplus on sale of investments) increased
by 110% from Rs 5.13 crores to Rs 10.78 crores.
Notably, this year's pre-diwali increase in stock-in-trade
was kept under check thereby contributing only Rs
3.57 crores to the bottom-line against Rs 11.69
crores in the previous year.
Second half turnover and profit are expected to
exceed first half levels. |
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