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Titan suffered a loss in the fourth quarter, the company’s net profit slipped 7 percent

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Titanium Q4 Results: Titan has also released its fourth quarter results. Tata group company Titan said that the company’s consolidated net profit slipped 7.21 percent in the January-March quarter. 527 crore, slipping 7.21 percent. At the same time, the company’s net profit in the same period a year ago was Rs 568 crore.

Income up 4.25 percent
In the information sent to the stock exchanges, the company said that its total income increased by 4.25 per cent to Rs 7,872 crore in the fourth quarter as compared to Rs 7,551 crore in January-March 2021. Titan said sales of its products declined 1.14 per cent to Rs 7,267 crore in the fourth quarter of FY 2021-22 from Rs 7,351 crore in the year-ago period.

expenses also increased
Let us tell you that the total expenditure of the company has increased by 5.04 percent to Rs 7,165 crore. In the fourth quarter of the financial year 2020-21, it was Rs 6,821 crore. Titan said in a statement, “We performed well in the fourth quarter despite the partial lockdown, volatility in gold prices and geopolitical uncertainty.”

Revenue up 11.8 percent
Titan’s revenue from the jewelery segment grew 2.47 per cent to Rs 6,843 crore in the quarter. At the same time, the revenue received from the sale of watches increased by 11.8 percent to Rs 625 crore. The company’s consolidated net profit more than doubled to Rs 2,198 crore for the entire financial year 2021-22. The company’s consolidated net profit stood at Rs 974 crore in the financial year 2020-21.

Company working to reach new heights
CK Venkataraman, Managing Director, Titan, said, “Despite all the challenges in Q4, the performance in terms of growth and profitability has been satisfactory. We are ready to scale new heights in the financial year 2022-23.

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