Titan Company Q2 Results FY2023, PAT at Rs. 1155 crores

Titan Company Q2 Results FY2023

by Shreya Anaokar Last Updated: Dec 13, 2022 - 05:05 am 12.3k Views
Listen icon

On 4th November 2022, Titan Company announced its quarterly results for the second quarter of FY2023.

Q2FY23 Performance updates:

-  Titan Company recorded a growth of 18% in revenues during the quarter compared to Q2FY22. 
- Total income for the quarter was Rs. 8,308 crores 
- The Company also recorded profits of Rs. 1,155 crores (before taxes) for the quarter, a growth of 33%.  


Business Highlights:

- Jewellery business registered an income of Rs. 7,203 crores in Q2 FY23, a growth of 18%.
- Watches & Wearables business reported an income of Rs. 829 crores with 21% growth in Q2 FY23. 
- The Wearables segment grew impressively by 246% to Rs. 88 crores during the quarter.
- EyeCare business reported a quarterly income of Rs. 167 crores with 4% growth in Q2 FY23. 
- Other businesses comprising Indian dress wear Fragrances & Fashion Accessories reported an income of Rs. 73 crores in Q2 FY23, a growth of 59%.
- The Company has added (net) 105 stores during the year. The Company's retail chain (including Caratlane) has 2,408 stores across 382 towns with an area exceeding 3 million sq. ft. as on September 2022. 
- Caratlane Trading Private Limited reported a revenue of Rs. 445 crores and a profit of Rs. 19 crores (before taxes) for the quarter, registering a revenue growth of 55%
- Titan Engineering & Automation Limited (TEAL) reported a revenue of Rs. 123 crores and a profit of Rs. 13 crores (before taxes). 

Commenting on the results, Mr.CK Venkataraman, Managing Director of the Company said: "The Company has continued its strong performance into Q2 across all business segments. Despite an uncertain macro environment, the current festive season starting from end of September mont h and continuing till end of October has been quite positive and the consumer confidence remains upbeat. We have clocked a retail growth of 17-19% in larger business divisions of the Company namely - Jewellery, Watches & Wearables and EyeCare over similar festive season timeline of the previous year. We remain relentlessly focussed in executing our growth plans in India and overseas and are optimistic about our performance in the remaining quarters of the current financial year."  

Titan share price dropped by 1.36%

Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 


Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Stocks in News Today

Our analysts at 5paisa scan through the financial markets and select the few trending stocks which were in the news and in the limelight for the day. Here is the list of a few trending stocks with their latest News and Updates.

Tata Consumer Share Price 5% Drop Post-Q4 Results: Buy or Sell?

After three consecutive sessions of gains, shares of the FMCG major fell by almost 5% on the BSE in Wednesday’s trade after declaring its Q4 result on Tuesday.