TITAN Announces Quarterly Results (3QFY21); Net Profit Up 11.7%

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TITAN Announces Quarterly Results (3QFY21); Net Profit Up 11.7%
Thu, 11 Feb

TITAN has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

TITAN Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m65,27445,53076,19067.3%16.7%
Other incomeRs m227480400-16.7%76.3%
TurnoverRs m65,50146,01076,59066.5%16.9%
ExpensesRs m57,69042,40067,71059.7%17.4%
Gross profitRs m7,5843,1308,480170.9%11.8%
DepreciationRs m8779409602.1%9.4%
InterestRs m4474905104.1%14.0%
Profit before taxRs m6,4872,1807,410239.9%14.2%
TaxRs m1,7404402,110379.5%21.2%
Profit after taxRs m4,7461,7405,300204.6%11.7%
Gross profit margin%11.66.911.1
Effective tax rate%26.820.228.5
Net profit margin%7.23.86.9
* 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 16.7% on a year-on-year (YoY) basis. The expenses were up by 17.4% YoY during the same period.
  • The company's operating profit increased by 11.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.1% in 3QFY21 as against 11.6% in 3QFY20.
  • Depreciation charges increased by 9.4% and finance costs increased by 14.0% YoY, respectively.
  • Other income increased by 76.3% YoY during the quarter.
  • Net profit for the quarter increased by 11.7% YoY. Net profit margins during the quarter declined from 7.2% in 3QFY20 to 6.9% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 67.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 59.7% QoQ during the same period.
  • The company's operating profit increased by 170.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.1% in 3QFY21 as against 6.9% in 2QFY20.
  • Net profit for the quarter increased by 204.6% QoQ, while net profit margins increased from 3.8% in 2QFY20 to 6.9% in 3QFY21.

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

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

TITAN Share Price Performance

Over the last one year, TITAN share price has moved up from Rs 1,271.0 to Rs 1,527.0, registering a Gain of Rs 256.0 or around 20.1%.

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 1,527.0, the price to earnings (P/E) ratio of TITAN stands at 179.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 20.3 times.

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