Titan slips 3%, hits over three-month low on weak March quarter results

Titan's jewellery division's revenue growth trajectory disappointed due to the dual impact of Omicron Covid variant in Jan and a sharp rise in gold prices in March deferring customer purchases.

Shares of Titan Company hit an over three-month low of Rs 2,309, down 3 per cent on the BSE in Wednesday’s intra-day trade after the company reported a 7.21 per cent year on year (YoY) decline in its consolidated net profit at Rs 527 crore in the fourth quarter ended March 2022 (Q4FY22).

The stock of the Tata group firm was trading at its lowest level since January 27, 2022. In the past one week, it has underperformed the market by falling 9 per cent as compared to a 0.87 per cent decline in the S&P BSE Sensex.