Titan Company Q1 results: Net loss of Rs. 270.00 crores for FY21

Titan Company Q1 results: Net loss of Rs. 270.00 crores for FY21

Titan Company Q1 results: Net loss of Rs. 270.00 crores for FY21

Titan Company: On Monday, August 10th, the company reported its Q1 results for the Financial Year 2020-21. The company reported its standalone net loss of Rs. 270.00 crores in this quarter ended on June 30th. The company also posted its standalone net profit of Rs. 371.00 crores in the same quarter last financial year. But, the analyst excepted a net loss of Rs. 127.00 crores in Q1FY21.

Besides, the company’s total sales from the jewellery and watchmaker department stood at Rs. 1,862.00 crores Year-on-Year (YoY) in Q1FY21. The company also reported its total sales of Rs. 4,939.00 crores in the same period last year. 

On the side, the companies revenue from jewellery department for this quarter decreased by 56% to Rs. 1,783.00 crores as against Rs. 4,047.00 crores in the same quarter last fiscal year. The companies revenue from the watches department for this quarter decreased by 90% to Rs. 75.00 crores as against Rs. 715.00 crores in the same period last financial year.

However, the shares of Titan Company Limited reported a bullish trend in the stock market on Monday. The company gained 12.15 points with a 1.11% increase and reached 1,103.20 INR. While in BSE, the company gained 17.10 points with a 1.57% increase and reached 1,107.80 INR.

Stock Market August 10th:

On Monday, both Sensex and Nifty reported a bullish trend in the stock market from the last two sessions. The Sensex is trading above 38,100 levels and Nifty is trading above 11,200 levels in the stock market. The Sensex gained 141.51 points with a 0.37% increase and reached a 38,182.08 level. While Nifty gained 56.10 points with a 0.50% increase and reached 11,270.15 level.

On the other side, the number of coronavirus cases in India reached 22,15,074 as of Monday, August 10th, and deaths reached 44,386.

In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Monday. It gained 200.39 points with a 1.47% increase and reached a 13,869.08 level. The S&P BSE Midcap gained 201.83 points with a 1.42% increase and reached a 14,420.70 level. While Nifty Bank gained 146.25 points with a 0.67% increase and reached 21,900.25 level.

Top Gainers on August 10th: Divi’s Laboratories, Cipla, Bharat Electronics, Lupin, and  Info Edge are the top gainers in today’s stock market.

Top Losers on August 10th: Container Corporation of India, RBL Bank, Muthoot Finance, Eicher Motors, and Bandhan Bank are the top losers in today’s stock market. 

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