The Tata group company Titan’s margin fell short of expectations and analysts believe it is expected to remain under pressure in the near future amid competition.
Titan Company on Friday reported a 5 per cent increase in consolidated profit after tax to Rs 771 crore for the March quarter. The company posted a profit after tax (PAT) of Rs 736 crore in the year-ago period.
Total income rose to Rs 11,472 crore during the period under review from Rs 9,419 crore in the fourth quarter of the 2022-23 fiscal. For the year ended March 31, 2024, the company posted a consolidated PAT of Rs 3,496 crore as compared with Rs 3,274 crore in FY23.
Total income for FY24 stood at Rs 47,501 crore as compared with Rs 38,675 crore in the 2022-23 fiscal.
“As we look forward to FY25, all businesses of the company are single-mindedly continuing to focus on satisfying the ever-evolving needs of our lifestyle consumers,” Titan Company MD C K Venkataraman said.
Titan Share Price Target After Q4 Results
| Brokerage | Rating | Target |
| CLSA | Buy | Reduced to Rs 4,270 from 4,547 |
| Morgan Stanley | Equal-weight | Raised to Rs 3,526 from Rs 3,290 |
| Jefferies | Hold | Rs 3,600 |
| JPMorgan | Overweight | Reduced to Rs 3,850 from Rs 3,950 |
| Goldman Sachs | Buy | Reduced to Rs 3,950 from Rs 4,075 |
| Citi | Neutral | Reduced to Rs 3,650 from Rs 3,850 |
Titan Q4 Results: Dividend
The board has also recommended a dividend of ₹11 per equity share for financial year 2024.
The dividend will be paid on or after the seventh day from the conclusion of the 40th Annual General Meeting, subject to the approval of the shareholders of the company.
(With inputs from PTI)