TITAN Announces Quarterly Results (3QFY20); Net Profit Up 15.4%

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TITAN Announces Quarterly Results (3QFY20); Net Profit Up 15.4%
Thu, 6 Feb

TITAN has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

TITAN Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m58,71546,61665,27440.0%11.2%
Other incomeRs m626318227-28.5%-63.8%
TurnoverRs m59,34146,93365,50139.6%10.4%
ExpensesRs m52,80341,39357,69039.4%9.3%
Gross profitRs m5,9125,2237,58445.2%28.3%
DepreciationRs m3858228776.7%128.0%
InterestRs m157449447-0.3%185.4%
Profit before taxRs m5,9974,2706,48751.9%8.2%
TaxRs m1,8851,1271,74054.4%-7.7%
Profit after taxRs m4,1123,1434,74651.0%15.4%
Gross profit margin%10.111.211.6
Effective tax rate%31.426.426.8
Net profit margin%6.96.77.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 11.2% on a year-on-year (YoY) basis. The expenses were up by 9.3% YoY during the same period.
  • The company's operating profit increased by 28.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.6% in 3QFY20 as against 10.1% in 3QFY19.
  • Depreciation charges increased by 128.0% and finance costs increased by 185.4% YoY, respectively.
  • Other income declined by 63.8% YoY during the quarter.
  • Net profit for the quarter increased by 15.4% YoY. Net profit margins during the quarter increased from 6.9% in 3QFY19 to 7.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 40.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 39.4% QoQ during the same period.
  • The company's operating profit increased by 45.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.6% in 3QFY20 as against 11.2% in 2QFY19.
  • Net profit for the quarter increased by 51.0% QoQ, while net profit margins increased from 6.7% in 2QFY19 to 7.2% in 3QFY20.

To see how TITAN has performed over the last eight quarters,please visit here.

Last Day: Discover India's #1 defence stock now

TITAN Share Price Performance

Over the last one year,TITAN share price has moved up from Rs 1,059.1 to Rs 1,261.7, registering a Gain of Rs 202.6 or around 19.1%.

Overall, the S&P BSE SENSEX is up 12.4% over the year.

Current Valuations

At the current price of Rs 1,261.7, the price to earnings (P/E) ratio of TITAN stands at 74.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 18.5 times.

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