Titan shares fall over 3 pc post earnings

NEW DELHI: Shares of Titan Company Ltd tumbled over 3 percent in morning trade on Wednesday, a day after the company reported a 7.21 percent decline in its consolidated net profit in the fourth quarter ended March 2022.

The stock declined 3.59 percent to Rs 2,300.80 on the BSE.

At the NSE, it went lower by 3.58 percent to Rs 2,301.10 apiece.

The Tata group firm on Tuesday reported a 7.21 percent decline in its consolidated net profit at Rs 527 crore in the fourth quarter ended March 2022.

It had posted a net profit of Rs 568 crore in the January-March quarter of FY21, Titan Company said in a regulatory filing.

Its total income was up 4.25 percent to Rs 7,872 crore during the period under review, as against Rs 7,551 crore in the corresponding period of the preceding fiscal.

The company's revenue from sales of products was down 1.14 percent to Rs 7,267 crore in the fourth quarter of FY22, as against Rs 7,351 crore a year ago.