By IANS
Bangalore : Titan Industries Ltd of the Tata Group clocked record performance in the first quarter (April-June) of the current fiscal (2007-08) with net profit tripling to Rs.121 million from Rs.40.21 million in the same period a year ago (2006-07).
According to the company's financial statement released here Friday for the first quarter, total income from operations increased to Rs.6.67 billion from Rs.4.5 billion in the same quarter of the last fiscal, registering year-on-year (YoY) growth of 48 percent.
The profit before tax shot up five times to Rs.250 million from Rs.50 million in the same period last year. Capital employed at Rs.5.8 billion in the first quarter of this fiscal was also lower from the previous quarter of the last fiscal by Rs.121 million.
Watch segment grew by 15 percent, with income from sales increasing to Rs.1.7 billion from Rs.1.5 billion in the same period a year ago. The jewellery segment grew significantly to Rs.4.7 billion from Rs.2.9 billion.
The company's other products segment, including eyewear, precision engineering, machine building and clocks, grew by over 71 percent to Rs.230 million from Rs.140 million last year.