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Titan Company has dipped 5% to Rs 398 on BSE, in otherwise firm market, after reporting a lower than expected performance with a 29% year-on-year jump in net profit at Rs 240 crore for the second quarter ended September 30, 2014 (Q2), on the account of sharp increase in jewellery sales.
However, analysts on an average had expected net profit of Rs 252 crore for the quarter.
The company had reported net profit of Rs 187 crore in the corresponding quarter a year ago.
Titan's net sales up 56% to Rs 3,565 crore during Q2, 2014-15, as against Rs 2,290 crore in the year-ago period, Titan said in BSE filing.
The company had reported net profit of Rs 187 crore in the corresponding quarter a year ago.
Titan's net sales up 56% to Rs 3,565 crore during Q2, 2014-15, as against Rs 2,290 crore in the year-ago period, Titan said in BSE filing.
The stock opened at Rs 412 and touched a low of Rs 391 on BSE. The trading volumes on the counter more-than-doubled with a combined 3.27 million shares changed hands in first hour of trading on BSE and NSE.
