Titan shines bright with robust Q1 sales amid a faster recovery in jewellery demand
Analysts expect the company to deliver 50-55 per cent net profit growth between FY21 and FY23.
Synopsis
With buoyant sales, the company is likely to report only a marginal loss or even a profit for the current fiscal year compared with the loss of Rs 270 crore in FY21.
ET Intelligence Group: Titan’s June quarter numbers show a strong recovery in the business amid partial lockdown across several states to curb the second wave of the pandemic. The overall sales more than doubled albeit on a lower base in the year-ago quarter. Its stores remained closed only in May this year while in the previous year, they were shut in both April and May. With buoyant sales, the company is likely to report only a marginal loss
