Titan Q3 results FY25 revealed that consolidated total income rose 26% to ₹17,723 crores in Q3FY25 as compared to ₹14,122 crores in Q3FY24. Consumer demand rose significantly after customs duty on gold imports was cut to 6% from 15% in July, aiding growth in plain gold sales for the quarter. In this blog, we’ll find all the details of the Titan Q3 results and segment-wise income.
Titan Q3 Results FY25: Key Highlights
- Marginal decline in consolidated net profit at ₹1047 crore for the quarter ended December 30, 2024 from ₹1,053 crores in the Q3 of FY24.
- EBIT stood at ₹1,627 crore, increased by 5.20% YoY while EBIT margin declined by 177 bps to 9.2% posted in Q3 FY24.
- Consolidated EBITDA rose by 6% YoY to ₹1,802 crores from ₹1,701 crores in the Titan Q3 results.
- In 1-week, Titan share price rose by around 3% (as on February 5, 2025).
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Consolidated Metrics | Q3 FY25 | Q3 FY24 | YoY Change |
---|---|---|---|
Net Profit | 1,047 | 1,053 | -1% |
Operating Revenue | 17,454 | 13,974 | 25% |
EBITDA | 1,802 | 1,701 | 6% |
*(in ₹ crores)
Titan Q3 Results FY25: Segmental Performance
- Jewellery: Total Income for the quarter grew 26% over Q3FY24 to ₹14,697 crores. The India business grew 25% in the same period. EBIT at ₹1,398 crores came at a margin of 9.5% for the quarter.
- Watches & Wearables: Business recorded a total income of ₹1,128 crores, up 15% over Q3FY24. The domestic business grew 14% in the same period. EBIT came in at ₹111 crores clocking a margin of 9.8% for the quarter. 23 stores (net) were added in Q3FY25 comprising 12 stores in Titan World, 10 in Helios, and 1 in Fastrack respectively.
- EyeCare: Total Income of ₹194 crores in Q3FY25 grew 16% over Q3FY24. International brand sales recorded a strong growth of 56% over Q3FY24. Business recorded an EBIT of Rs.21 crores clocking a margin of 10.8% for the quarter. The division closed 3 new stores (net) during the quarter in Titan Eye+.
Titan Q3 Results: Management Commentary
Mr. CK Venkataraman, Managing Director of the Titan Company stated that, “The festive quarter gone by firmly established the FY25 growth trajectory after a muted QI and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, both as adornment jewellery and as a store of value continued to remain fairly strong. Our analog watches clocked a healthy retail growth of 20%, reinforcing Titan’s customer value proposition in the eyes of the consumer.
EyeCare’s retail growth returning to double-digits was encouraging. The custom duty related losses on the inventory (held at the time of the duty change) have been fully realized in this quarter and hence the profitability is lower to that extent. We are committed to investing in the growths of all our businesses and specifically the emerging ones to help them scale faster. We remain optimistic on our performance and hope to end the fiscal year with a good growth over FY24.”
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Reference:
SMC Global Securities Research Team
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