Titan Q2 profit jumps 23% to Rs 181 cr, margin beats estimates.
Watch and jewellery maker Titan Company missed analysts' expectations on topline and bottomline front but margin was ahead of estimates. Profit grew by 23.5 percent year-on-year to Rs 180.7 crore in the quarter ended September 2016.
Revenue during the quarter fell 0.2 percent to Rs 2,675.7 crore on yearly basis, impacted by degrowth in watch business and muted growth in jewellery segment.
EBITDA (earnings before interest, tax, depreciation and amortisation) surged 36.8 percent to Rs 276.3 crore and margin expanded by 280 basis points to 10.3 percent compared with year-ago period.
