Amid stiffer competition and higher gold prices in the quarter, Titan increased investments in marketing and gold exchange programmes to spur demand. While this helped jewellery revenue, excluding bullion sales, grow 23% year-on-year, margins slid. Ebit margin fell 80 basis points y-o-y and 190 bps sequentially to 12.2%. A lower share of studded jewellery y-o-y affected the overall margin. The watches and eyewear segments had lacklustre margins in Q3.
Consequently, some brokerages trimmed earnings expectations after the results. Prabhudas Lilladher cut its FY24, FY25 and FY26 earnings-per-share estimates by 2%, 1.6%, and 1.4%, "following margin pressure across segments indicating some softness in demand and higher competition." The brokerage said it expected watch margins to improve, but that eyewear margins would remain low due to more competition.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Unregulated and volatile: Is crypto worth the gamble?
India’s crypto landscape is a complex mix of volatility, cybersecurity risks and regulatory gaps
A 'dark' tour of Ukraine's war-ravaged cities
Tour companies are offering thrill-seeking tourists packages to visit sights of tragic events, hoping to make money and raise awareness
Shades of art and coffee
A Mint guide to what's happening in and around your city
AI effect: Business efficiency but puffed-out workers?
Upskill. Upgrade. Retrain. Reskill. Words that are sprinkled liberally in the business updates of many listed firms of India Inc. While companies have begun to boast of their fast-increasing count of workers skilled in the use of artificial intelligence (AI) tools, for us employees, the quickened pace of upskilling seems to be a race. A race that many did not volunteer to participate in, but cannot afford to watch from the sidelines. It is ironical that AI, which is expected to ease business complexities, may end up exhausting employees being pushed to Upskill, Upgrade and Retrain.
Here's how India can address the emerging scarcity of fresh water
It's time for the country to invest in future supplies through desalination plants that could be set up along our vast coastline
It won't be easy for Bessent to fix US finances but he should
Trump's chosen Treasury secretary will face a daunting challenge
India should consider a jobs-linked incentive scheme
Employees Provident Fund Organisation (EPFO) data shows that around 12-13 million formal jobs are added every year. This is good news. On the other hand, data from the Centre for Monitoring Indian Economy reveals an unemployment rate that has ranged from 7.2% to 9% this year.
Small government: Back with a bang or whimper?
Trump's push for a drastic scale-back of the American state could be a test case for others. Get it right, the economy booms. Get too radical, and big-bang reforms could backfire badly
How to keep your FIRE alive: Smart financial planning tips
Financial experts came together at the Mint Money Festival 2024 to discuss FIRE (financial independence, retire early), how to execute it, and things to look out for along the way.
Who doesn't love cash transfers but are these really the answer?
These schemes are easy to run and popular but do little to reduce the disadvantages women face
