Titan Share Price Drops 1.41%; Reports 26.4% Revenue Growth in Q2 FY25 Financial Results

On November 6, 2024, Titan share price opened at ₹3,145.00, down from its previous close of ₹3,230.25. At 12:09 PM, the share price of Titan was trading at ₹3,184.75, down by 1.41%. On Tuesday, the company announced its financial results for the quarter and half year ended September 30, 2024. 

Q2 FY 2025 Financial Highlights

For the second quarter (Q2 FY 2025), the company’s operating revenue reached ₹13,538 crore, reflecting a significant 26.4% increase compared to ₹10,713 crore in Q2 FY 2024. Similarly, total income grew by 26.0%, rising to ₹13,660 crore from ₹10,837 crore in the same quarter last year. 

However, despite the growth in revenue and total income, the company witnessed a 23.1% decline in Profit After Tax (PAT), which dropped to ₹704 crore from ₹916 crore in Q2 FY 2024.

H1 FY 2025 Financial Highlights

For the first half of FY 2025 (H1 FY 2025), the company also reported healthy growth in revenue and total income. Operating revenue for H1 FY 2025 stood at ₹25,804 crore, marking a 19.1% rise from ₹21,669 crore in H1 FY 2024. 

Total income for the period rose by 18.9%, from ₹21,907 crore in H1 FY 2024 to ₹26,046 crore in H1 FY 2025. However, PAT for H1 FY 2025 was ₹1,419 crore, reflecting a decline of 15.9% from ₹1,672 crore in the same period last year. 

Commenting on the financial performance, the Managing Director of Titan Company, Mr C K Venkataraman, said, “After a muted Q1, Q2 witnessed encouraging growth across key businesses. Jewellery clocked healthy double-digit growth for the quarter. Our portfolio approach in this business of straddling diverse customer needs through the brands of Tanishq, Mia, Zoya and CaratLane is working well. The buyer growth metrics were fairly strong and in good double-digits across gold and studded product categories.” 

He further added, “The quarter also witnessed analog watches growing 25%+ over last year with commensurate uptick in volumes. Titan brand continues to be an Indian consumer’s proud choice in this segment. On account of the customs duty-related losses, as well as the need to invest in the growth of various businesses, the profitability of Q2 was quite depressed. However, we are quite confident about the competitiveness of each of our businesses and we remain optimistic about our performance for the rest of the financial year.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.