Tata Group Jewellery Stock Declares Rs 10/Share Dividend, PAT Soars 50%

Leading Tata Group stock, Titan Company Ltd declared its net profit at Rs 734 crore for the quarter ended March, up 50% as compared to Rs 491 crore declared in the similar quarter last year. The Board of Directors at its meeting held on May 3, 2023 has recommended a dividend of Rs 10 per equity share for the year ended 31 March 2023. The same is subject to shareholders' approval in the ensuing Annual General Meeting.

Titan announced its revenue from operations soared 33% to Rs 9704 crore for the quarter under consideration as compared to Rs 7276 crore reported in the year ago period.

Standalone EBIT (earnings before interest and taxes) for the quarter declared at Rs 1,053 cr (higher by ~37% YoY) and clocking 12.0% EBIT margin.

"The year gone by witnessed several firsts for Titan. The jewellery, watches and wearables, and eyecare achieved landmark milestones of annual consumer retail sales. After a satisfying performance across all the segments during FY23, we are well prepared and looking forward to an exciting FY24," said C K Venkataraman, MD, Titan.

Stock Performance: Last trading price of Titan Company Ltd is Rs 2654.35 per share with intraday fall of 0.26% on BSE. The stock's 52-week high price is Rs 2790.00 per share and 52-week low price is Rs 1827.15 per share, apiece.

Market Cap: The company's market capitalisation stands at Rs 2,35,649.52 crore as of May 3, 2023.

Stock Return: The stock declined 3% in last 6-months, gave 7% return in last 3-months, 11% return in last 1-year, 86% return in last 2-years, and 173% return in last 3-years.

About: The Titan Company Limited (Titan) Journey began in 1984 as a joint venture between the TATA Group and Tamil Nadu Industrial Development Corporation (TIDCO). Started with an objective to create a Titan watch for everyone has now grown to be the fifth largest integrated watch manufacturer in the world which was only the beginning of a success story, according to its official website.

Disclaimer: The stock announced dividend today and quarterly results. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.